No Need For Gross Receipts Tax, Corporate Tax Revenues Up 14.3%

CHICAGO-Governor Rod Blagojevich’s proposed new tax on gross receipts is floating on a raft of deceptions, half-truths and hidden future tax increases, charged Jim Tobin, president National Taxpayers United of Illinois (NTUI), Illinois’ largest taxpayer organization. “This proposed new tax will make Illinois uncompetitive with other states, drive many businesses bankrupt, and result in higher costs for Illinois consumers,” said Tobin. “But that’s just the beginning. Illinois corporations will be socked with higher taxes in the future, and that’s not being told to taxpayers or the media.” Read more