Illinois’ Corporate Income Tax is 9.5% – Fourth Highest in US!

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The Illinois state corporate income tax is continues to be understated by reporters and politicians, according to the president of one of the nation’s largest taxpayer groups, Taxpayers United of America (TUA).
“The total Illinois corporate state income tax rate of 9.5% includes a base rate of 7% and another 2.5% on top of that, which was added by constitutional amendment in 1980,” said Jim Tobin, President of TUA. “The additional tax was called a ‘personal property replacement tax,’ which purportedly replaced a 19th-century tax that was not even being collected.”
The Ill. Dept. of Revenue’s own website states: “For tax years beginning on or after January 1, 2011, corporations pay 7.0 % income tax and 2.5% replacement tax.”
“In 2011, the Democrat-controlled state legislature pushed through a huge, back-breaking 67% increase in the state personal income tax, as well as hiking the state corporate income tax. Every dollar from these gigantic tax increases is being used to prop-up the failed government employee pension system from which they and their special-interest supporters benefit.
According to the non-partisan Tax Foundation in Washington, D.C., “The Illinois corporate state income tax rate, recently raised from 7.3% to 9.5%, rose from being the 21st highest overall corporate tax rate in the country to 4th highest. Almost all nearby states have lower state corporate state income tax rates, putting Illinois in a very unfavorable position competitively.”
“Now Springfield Democrats are pushing for a graduated personal state income tax with a top tier of as much as 11%. This would have a catastrophic effect on the 61% of Illinois businesses that pay income tax under the personal income tax code as ‘pass-through’ businesses. Illinois, which is struggling to survive economically, undoubtedly would become an economic wasteland if the state’s most productive individuals and corporations are forced to flee to states with lower tax rates.”

Taxpayers Win Big in Illinois Primary

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140203_berwynflyer-1Chicago—Taxpayers voted ‘NO’ on property tax increases in Tuesday’s primary election, according to Jim Tobin, president of Taxpayers United of America (TUA).
“We soundly beat property tax increase referenda in Berwyn South SD 100, Kane County, Huntley Park District, and the Village of Bull Valley, bringing our total to 203 property tax increase victories since 1977. We also helped taxpayers defeat home rule in Rochester, IL, bringing our home rule victories to 201.”
“Taxpayers sent a clear message that they are fed up with the constant money grab by government bureaucrats. 80% of local taxes fund the huge salaries and benefits of the very bureaucrats who are trying to raise taxes. Taxpayers are tired of taking pay cuts to fund government-employee pay increases.”
“Our political action arm, Tax Accountability, had some significant victories as well. Jim Oberweis’ win in the US Senate primary will square him off against Dick Durbin in November. We are confident that Jim is the candidate to win that race. In his words, ‘I believe that if I win this Senate seat, it means that the Republicans will be taking control of the US Senate and that will change the direction of the country.’”
“With Bruce Rauner winning the Republican gubernatorial race, we can look forward to a solid challenger to Patrick Quinn.”
“This is a pivotal year for Illinois. It’s pretty clear that we need to change things in Springfield quickly. The status quo in Government bureaucrats have bled the state’s taxpayers nearly dry and it is time to set a course of growth and economic freedom. I am confident that we have two of the best candidates to make that happen.”

Kane County Chronicle | Show You Care Kane referendum falls short

TUA Executive Director Rae Ann McNeilly was quoted by the Kane County Chronicle about the defeat of the Kane County tax hike.
kanecountywinThe massive effort in the past year to support a property tax increase of 0.1 percent in Kane County came to a resounding defeat Tuesday, according to unofficial election results, with 25,487 voting no to 14,465 voting yes.

Charles Miles of Geneva, who had hoped the referendum would pass so that his developmentally disabled adult daughter might get additional help, said those who tried to promote the referendum were disappointed in the loss.
“Obviously to all the people who worked so hard to try to get this passed, it is particularly disappointing to the families that this referendum would improve the quality of life for those who have developmental disabilities,” Miles said. “We knew it would be an uphill battle, but we did not expect for it to be that bad.”
If levied at the full rate, the measure would have increased the tax burden by about $100 a year for the owner of a $300,000 home. The tax would have raised about $13 million to be administered by a disabilities board – also known as a 377 board – for housing, transportation, jobs and job training, among other services for people with disabilities.
Show You Care Kane spearheaded a petition drive, collecting 34,260 signatures to get the referendum on the ballot after Kane County officials would not put the question to voters.
While supporters mourned the ballot defeat, North Aurora resident Rae Ann McNeilly, of Kane County Taxpayers Fight Back, said it represents a victory for taxpayers.
“There are so many people with so many special needs, that to tie this kind of funding to the property taxes would be immoral and unjust,” McNeilly said. “That is not to say there is no compassion for these people with special needs.”
McNeilly said funding for those services should come from private donations.