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Capitol Fax com - Your Illinois News Radar » I thought the opponents wanted a flat tax rate?

==his clients, including some now in Illinois, increasingly are looking at places such as Texas== Was Jack on vacation last week? Someplace without a TV or internet access? ==capping deductions of corporate losses at $100,000 a year for three years== If it’s just for the next three years, wouldn’t businesses just apply any NOL above that limit over those three years to year four? Isn’t that like borrowing net operating loss deductions from future years? Support for individuals in need and. small pass thru business owners “socialism.” Support for big companies “capitalism.” Got it =what businesses really want is stability=

New Cook County property assessments continue to shift tax burden from homeowners to businesses in south suburbs

New Cook County property assessments continue to shift tax burden from homeowners to businesses in south suburbs
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Illinois Online Shoppers Now Get Local Tax Hit

WBGZ Radio 1/20/2021 | By Cole Lauterbach - Illinois Radio Network Burning through those online gift cards will go incrementally faster in 2021 depending on how high local sales taxes are in your local Illinois municipality.  That’s because of a 2019 law that took effect with the new year.  In reaction to the U.S. Supreme Court’s Wayfair v. South Dakota lawsuit, Illinois lawmakers sent Gov. J.B. Pritzker legislation that would require many online retailers, including Amazon and others, to collect state and local sales tax from online purchases. Online retailers have collected a use tax at the same rate as sales tax before the new year but the new law means where you live could add cost to the purchase. 

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