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The Illinois Department of Revenue has increased in size in line with the creation of new taxes within the state and the expansion of existing taxes. A gasoline tax was enacted in Illinois in 1927, the sales tax was enacted in 1933; the state income tax was enacted in 1969, and the first lottery tickets were sold in 1974 in the state capital of ...
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If you’re an Illinois resident or business owner, you have until April 18, 2023, to file your Illinois state income taxes. If you’re expecting a refund this year, this quick guide explains how ...
The term "franchise tax" has nothing to do with the voting franchise, and franchise taxes only apply to individuals insofar as they do business. Note that some states actually levy both corporate net income taxes and corporate franchise taxes based on net income. For the following list, see [62] and. [63]
The Illinois Fair Tax was a proposed amendment to the Illinois state constitution that would have effectively changed the state income tax system from a flat tax to a graduated income tax. The proposal, formally titled the "Allow for Graduated Income Tax Amendment", appeared on the ballot in the November 3, 2020 election in Illinois as a ...
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The main question behind this issue stems into three different approaches. First, federal spending should be neutral, meaning federal taxation should roughly equal expenditures. Second, it should be redistributive, meaning rich states should be taxed most heavily and poorer states should receive more benefits.
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