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Illinois
Temporary Tax Increase |
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In his
State of The State speech, Illinois
Governor Pat Quinn propose making the temporary personal and
corporate tax increases permanent.
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In 2011 the Illinois
personal tax rate was raised from 3% to 5% and the corporate
income tax rate was raised from 4.8% to 7%.
The personal income
tax rate was scheduled to revert to 3.2% in 2015 and the
corporate rate was scheduled to go to 7.3% in 2015. |
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The Governor has called for those tax rates to remain in
place and ease the property tax burden by giving property
owners a $500.00 annual rebate. |
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Sources:
Governor Quinn’s Speech
By Jack
River
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