The 9 'corporate tax loopholes' Pritzker wants to end that businesses call 'incentives'
In this still image taken from video, Gov. J.B. Pritzker presents a remote version of his annual State of the State and budget addresses Feb. 17 from a pavilion at the Illinois State Fairgrounds in Springfield.
Associated Press
Updated 3/13/2021 4:59 PM
In order to balance next year's state budget, Gov. J.B. Pritzker is asking legislators to eliminate what his administration calls nine "corporate tax loopholes" to generate nearly $1 billion per year in revenue.
However, some business leaders say the elimination of what they call "corporate tax incentives" would undercut the ability of many business owners to recover from financial hardships caused by the COVID-19 pandemic and could result in decreased state revenue in other areas.