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The Illinois state corporate income tax is not 7% as some politicians, columnists and organizations have erroneously stated, but is actually 9.5%, according to the president of one of the nation’s largest taxpayer groups.
“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 constitution amendment in 1980,” said Jim Tobin, President of Taxpayers United of America. “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.”
“Two years ago 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 pumped into the terminally-ill state government employee pensions funds, and these funds, which fund lavish gold-plated pension plans, are still going under.”
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 state graduated income tax with a top tier of as much as 11%. Illinois, which is struggling to survive economically, undoubtedly would become an economic wasteland if the state’s most productive individuals and corporations flee to states with lower tax rates.”
Jim Tobin, President of Taxpayers United for America, appeared on Left Right and You Radio to discuss Illinois’ pension problem. To listen, click on the player below.
[audio:https://www.taxpayersunitedofamerica.org/wp-content/skillicorn.mp3|titles=Jim Tobin on Left Right and You Radio]
TUA’s 15th tax survey of the Illinois General Assembly was featured in an article at Northwest Herald.
When it comes to friends and enemies of taxpayers, McHenry County residents have neither – not even Jack Franks.
That’s the opinion of Taxpayers United of America, one of the largest taxpayer organizations in the country.
TUA last week released its 15th biennial tax survey of the Illinois General Assembly. The survey reveals the tax-and-spending records of every member of the 97th General Assembly from January 2011 to January 2013.
“The 97th General Assembly accomplished little to improve the tax landscape for Illinois residents,” TUA President Jim Tobin said in a news release. “Unfortunately, the real legacy of the 97th General Assembly is the lack of any government pension reform. While lawmakers nickel-and-dime Illinois taxpayers with increased license plate taxes and numerous speed and red-light cameras, they failed to reform the problem that is bankrupting the state and causing residents to flee in droves.”
TUA’s survey examines every lawmaker’s vote on bills regarding tax cuts and tax increases. A lawmaker can achieve a perfect score if he or she votes for each tax cut and against each tax increase. Such a lawmaker would receive a score of 100 percent.
Based on TUA’s assessment, there were only five taxpayer friends in the 97th General Assembly, and they all were Republicans from the House: Patricia Bellock (47th District), Paul Evans (102nd), Mike Fortner (95th), Chad Hays (104th) and Jil Tracy (93rd).
Those five scored a 71 percent on the survey. Do you know who else scored a 71 percent? Franks, the Democrat from Marengo.
However, Franks failed to make the taxpayer friends list. Why? Because he’s a Democrat.
Tobin told me this week that in this survey and the previous survey, TUA refused to put Democrats on the friends list because of the orchestrated and “structured” vote to raise the personal and corporate income tax in Illinois during a lame-duck session in 2011.
TUA doesn’t trust Democrats’ votes, so they don’t make the friends list. Franks, by the way, voted against the income-tax increase.
As for taxpayer enemies, 20 Illinois senators made the list, including James Meeks (15th), who scored a zero. Forty-two Illinois House members were on the enemies list, including House Speaker Michael Madigan.
Locally, state Sen. Pam Althoff, R-McHenry, scored a 50 percent. State Sen. Dan Duffy, R-Lake Barrington, scored a 64 percent.
Besides Franks in the House, Rep. Mike Tryon, R-Crystal Lake, scored a 50 percent. The late Mark Beaubien, R-Barrington Hills, didn’t score in the survey. His replacement, Kent Gaffney, R-Lake Barrington, scored a 64 percent.
TUA last week released its 15th biennial tax survey of the Illinois General Assembly. The survey reveals the tax-and-spending records of every member of the 97th General Assembly from January 2011 to January 2013.
“The 97th General Assembly accomplished little to improve the tax landscape for Illinois residents,” TUA President Jim Tobin said in a news release. “Unfortunately, the real legacy of the 97th General Assembly is the lack of any government pension reform. While lawmakers nickel-and-dime Illinois taxpayers with increased license plate taxes and numerous speed and red-light cameras, they failed to reform the problem that is bankrupting the state and causing residents to flee in droves.”
TUA’s survey examines every lawmaker’s vote on bills regarding tax cuts and tax increases. A lawmaker can achieve a perfect score if he or she votes for each tax cut and against each tax increase. Such a lawmaker would receive a score of 100 percent.
Based on TUA’s assessment, there were only five taxpayer friends in the 97th General Assembly, and they all were Republicans from the House: Patricia Bellock (47th District), Paul Evans (102nd), Mike Fortner (95th), Chad Hays (104th) and Jil Tracy (93rd).
Those five scored a 71 percent on the survey. Do you know who else scored a 71 percent? Franks, the Democrat from Marengo.
However, Franks failed to make the taxpayer friends list. Why? Because he’s a Democrat.
Tobin told me this week that in this survey and the previous survey, TUA refused to put Democrats on the friends list because of the orchestrated and “structured” vote to raise the personal and corporate income tax in Illinois during a lame-duck session in 2011.
TUA doesn’t trust Democrats’ votes, so they don’t make the friends list. Franks, by the way, voted against the income-tax increase.
As for taxpayer enemies, 20 Illinois senators made the list, including James Meeks (15th), who scored a zero. Forty-two Illinois House members were on the enemies list, including House Speaker Michael Madigan.
Locally, state Sen. Pam Althoff, R-McHenry, scored a 50 percent. State Sen. Dan Duffy, R-Lake Barrington, scored a 64 percent.
Besides Franks in the House, Rep. Mike Tryon, R-Crystal Lake, scored a 50 percent. The late Mark Beaubien, R-Barrington Hills, didn’t score in the survey. His replacement, Kent Gaffney, R-Lake Barrington, scored a 64 percent.
