Governor Calls for $450 Million Tax Hike on Illinois Businesses as Part of Budget Plan
Governor Quinn delivered his annual state budget address this Wednesday to state legislators and called for a $450 million tax hike on Illinois businesses by closing what the Governor claims to be corporate tax “loop-holes” to pay for the state’s $9 billion backlog of unpaid bills. The Governor proposes to repeal or eliminate the Non-Combination Rule, the Domestic Production Activity Credit, and the Foreig ...
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