Income Tax

Released April 30, 2018

This report makes the case for a graduated rate state income tax in Illinois, and illustrates two possible rate structures that would accomplish each of three major objectives:

Released August 12, 2015

This Report provides a detailed analysis of both Governor Bruce Rauner’s and the General Assembly’s two very different proposals for the FY2016 General Fund budget. Both budget proposals would cut services and increase the state’s deficit due to the phase down of the temporary tax increases in the state’s personal and corporate income tax rates that became effective on January 1, 2015. Collectively, those income tax rate cuts will cause Illinois’ General Fund to lose $4.6 billion in recurring revenue over the course of the full fiscal year.

Released August 26, 2009

CTBA's August 2009, testimony to the Pension Modernization Task Force, Funding Subcommittee.

Released October 10, 2006

An overview fiscal systems in general and the of the Illinois' fiscal system.

Released April 4, 2007

Answers to frequently asked questions about Illinois' fiscal system

Released April 17, 2007

Written supplement to oral testimony provided to the House Revenue Committee during its April 2007 subject matter hearing on tax fairness.

Released February 26, 2009

A Fact Sheet on Illinois' state Earned Income Tax Credit, and legislation from the 96th General Assembly that would have increased it.

Released August 2, 2012

This Report provides an analysis of the enacted FY2013 General Fund budget.

Released March 1, 2013

With over 70 tables and charts, the Illinois State Budget and Tax Primer details the technical elements of the budget process, revenue system and challenges the state faces in clear terms.  

Released June 3, 2013

The Taxpayer Accountability and Budget Stabilization Act of 2011 temporarily increased the personal and corporate income tax rates, providing the state with much needed revenue. This Special Report examines the impact of those tax increases on the state's General Fund budget deficits for fiscal years 2011-2013.