7 Brand New Taxes Proposed for Illinois Residents
The good news, the beverage tax is dead, for now, the bad news, lawmakers in Springfield are now proposing seven new taxes that didn't exist before.
So here's where we stand. The state senate is STILL proposing an income tax increase, that will cause your personal Illinois tax rate to increase by 33.1% (from 3.75 % to 4.99% ). Yesterday we reported the rate would go to 5.25 %, but that figure has been revised.
Today, we get word that the Democratic leaders in the Illinois Senate are now proposing new taxes on:
- Dry cleaning
- Storage of cars, boats and property
- Landscaping services
- Car repair services
- Maintenance of personal property taxes
- Amusement services (Concert tickets, etc...)
According to the Illinois Policy Institute, these NEW taxes would generate $413 million for the State of Illinois
Also, a excise tax on cable and satellite service, that was set to expire, will be renewed.
What is really scary is the Senators are proposing what they are referring to as an "Illinois Business Opportunity tax". This tax would tax companies or individuals for the "privilege" of doing in Illinois. The tax would range from $225 to $15,000 for a company who has a payroll. The tax would be larger, depending on the size of it's payroll. Talk about a great way of deterring jobs.
Once again these taxes are before the Illinois State Senate. If you live in the Stateline and wish to contact your local senator, here is how you can reach them:
Sen Syverson (Rockford area) can be contacted HERE
Sen Bivens (represents Carroll, DeKalb, JoDaviess, LaSalle, Lee, Ogle, Stephenson counties, and Dixon Area) and can be contacted HERE.
Sen Stademan (Rockford Area) can be contacted at: Stadelman@senatedem.ilga.gov
Sen. Altholf (McHenry County Area) can be reached HERE