Illinois Losing $126 Million in Sales Tax
Revenue?
Wednesday November 19, 2008 by Adriene Hill,
Senior Editor, News & Business
According to a new report from
a D.C. group called “Good Jobs First” the state of Illinois leads the
nation in the amount of sales tax receipts it lets retailers keep. The
group says the national loss numbers are around $1 billion a year.
Illinois accounts for $126 million of that.
The WSJ has an interesting
article that puts the numbers in a little perspective. According to
the article, “A spokesman for the Illinois revenue department said it had
attempted over the years to get legislators to cap the compensation
program. The initiatives failed amid opposition from retailers.”
WBBM
is reporting Ralph Martire, of the Center for Tax and Budget
Accountability, will push for a cap on collection in Illinois.
That’s an idea that David Vite of the Illinois Retail Merchants
Association hates. I caught him on his cell phone. He was very critical of
the group that released the numbers and the study.
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This post was written on Wednesday November 19,
2008 at 7:32 am by Adriene Hill, Senior Editor, News & Business and
was published under Business, WBEZ.