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Additional Tax Liabilities Possible for IL Businesses


WBGZ Radio 1/13/2021 |
By Greg Bishop - Illinois Radio Network
Illinois businesses hit by losses because of government COVID-19 restrictions could collectively be on the hook for half-a-billion dollars in tax liabilities if Gov. J.B. Pritzker gets his way. There’s growing opposition.
Pritzker said Wednesday the lame-duck session underway in Springfield should decouple the state tax code from a recent federal change to lower tax liabilities for businesses hurt during the pandemic.
“That would essentially deprive Illinois of revenues that it otherwise should get and it’s literally a technical fix,” he said.
Friday his administration said the fix would increase the state’s coffers by half-a-billion dollars. ....

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Businesses struggling with pandemic could be on hook for $500M tax increase


Businesses struggling with pandemic could be on hook for $500M tax increase
by
Greg Bishop, The Center Square
 | January 11, 2021 08:30 AM
Print this article
Illinois businesses hit by losses because of government COVID-19 restrictions could collectively be on the hook for half-a-billion dollars in tax liabilities if Gov. J.B. Pritzker gets his way. There’s growing opposition.
Pritzker said Wednesday the lame-duck session underway in Springfield should decouple the state tax code from a recent federal change to lower tax liabilities for businesses hurt during the pandemic.
“That would essentially deprive Illinois of revenues that it otherwise should get and it’s literally a technical fix,” he said. ....

United States , Dick Durbin , Tom Demmer , Mark Grant , Illinois Manufacturer Association , Illinois Hotel Lodging Association , Illinois Licensed Beverage Association , Hospitality Business Association Of Chicago , Association Of Illinois , Valley Industrial Association , Chicagoland Chamber , Technology Manufacturing Association , National Restaurant Association , Illinois Chamber , Illinois Retail Merchants Association , Director Mark Grant , Feed Association , Hospitality Business Association , Illinois Hotel , Lodging Association , Manufacturing Association , Valley Industrial , Blue Collar Jobs Act , ஒன்றுபட்டது மாநிலங்களில் , டிக் டர்பின் , டோம் டெம்மர் ,