Preparing for Illinois’ Income Tax Increase

Preparing for Illinois Income Tax Increase

No one likes when tax increases hit home and impact our personal finances. Unfortunately, in a controversial move, the Illinois state legislature has overridden a veto by Governor Bruce Rauner and increased the personal income tax from 3.75% to 4.95%. This is intended to increase tax revenues by $5 billion to address the state’s enormous  … Read more

Illinois Residents Facing Income Tax Increase

  The state of Illinois asks a lot of its taxpayers. For decades, since 1969, the state has faced budget crisis after crisis, and deep political divides between those who believe in tax increases to balance the budget and those who don’t. Unfortunately, the historical trend has left the state with one of the highest  … Read more