Business Taxes

Released April 7, 2014

Policy leaders across Illinois have identified supporting small businesses and entrepreneurship as key to reviving the state’s sluggish economy. And no wonder, given that over 99 percent of all businesses in Illinois are “small business” as defined by the Small Business Administration.  This Report, identifies best practices and policy initiatives decision makers can take to improve the state’s economy and aid small businesses in Illinois.

Released July 11, 2006

A list of the corporate income tax rates in all 50 states and the District of Columbia in 2006.

Released February 9, 2006

A list of annual losses in Illinois' state revenue from corporate tax expenditures for FY2001-FY2004.

Released October 10, 2006

An overview of House Bill 4908 of the 92nd General Assembly, which would have limited the Net Operating Loss Deduction for businesses.

Released October 10, 2006

An overview of Public Act 93-0552, the Corporate Accountability in Tax Expenditures Act.

Released March 6, 2007

A Fact Sheet on the Gross Receipts Tax, which in general is a broad-based, low rate tax imposed on all income received by a business without any deductions for costs of doing business.

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 September 11, 2007

This Issue Brief provides an overview of the tax expenditures available to corporations in Illinois.

Released 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.