Corporate Income Tax
Ald. Will Burns (4th) and some colleagues have sponsored a measure that would require large corporations seeking financial assistance from the city to declare how much they pay – or don’t pay – in corporate income taxes.
Illinois House Republicans – and even some House Democrats – want to roll back the state’s corporate income tax increase, but there’s no serious talk of also rolling back the personal income tax hike.
The Illinois General Assembly got an early start on a plan to try to keep Chicago’s two financial exchange companies in the state Monday, just ahead of today’s opening of the fall veto session.
A new legislative panel has been formed to study Illinois’ corporate tax structure. The commission comes as some of Illinois’ largest companies threaten to leave.