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If you're an Illinois resident or business owner, you have until April 18, 2023, to file your Illinois state income taxes. If you're expecting a refund this year, this quick guide explains how to...
Rankings were based on the tax burden for small businesses, with income taxes, property taxes and corporate taxes as key factors. Here's where Illinois ranks when it comes to small business taxes ...
The Illinois Department of Revenue (IDOR) is the code department [1] [2] of the Illinois state government that collects state taxes, operates the state lottery, oversees the state's casino industry, oversees the state's thoroughbred and harness horse racing industries, and regulates the distribution of alcoholic beverages throughout Illinois, including beer, wine, and liquor. [3]
Illinois is one of 11 U.S. states with a flat income tax; seven states have no income tax; 32 other states use graduated income taxes, which tax higher incomes at a higher rate. [5] The last state to switch from a flat state income tax to a graduated state income tax was Connecticut in 1996.
Sales taxes are imposed only on taxable transfers of goods or services. The tax is computed as the tax rate times the taxable transaction value. Rates vary by state, and by locality within a state. [ 5] Not all types of transfers are taxable. The tax may be imposed on sales to consumers and to businesses.
The conservative think tank Wirepoints reported in 2021 that state and local government debt and unfunded pension and employee health care liabilities amounted to $110,000 per every household in ...
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