Income Tax

The Case for Creating a Graduated Income Tax in Illinois

Release: February 1, 2012

Creating a graduated rate structure for the Illinois individual income tax is one  long-term, structural policy change that would simultaneously stimulate job growth in the state, tax people more fairly and reduce Illinois’ General Fund deficits.This Report explains why a graduated rate structure is needed in Illinois, and how it would impact taxpayers and the state's budget.

Written Summary of Corporate Income Tax Expenditure Testimony

Release: July 19, 2011

The written summary of Ralph Martire's testimony on corporate income tax expenditures to the joint House and Senate revenue committee in August 2011.

Taxing Retirement Income

Release: April 5, 2011

Illinois does not currently tax pensions or retirement funds such as 401(k) plans. This Fact Sheet provides an estimate how much revenue could be generated by taxing some retirement income.

Issue Brief: The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496)

Release: February 9, 2011

This Issue Brief provides an overview of the Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which took effect in fiscal year 2011. 

Initial Analysis of Recent Tax Increases and Spending Caps Implemented Under P.A. 96-1496

Release: January 26, 2011

This is a presentation of CTBA's analysis of The Taxpayer Accountability and Budget Stabilization Act (P.A. 96-1496), which temporarily increased the income tax rates in Illinois and implement spending caps of the General Fund budget.

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