corporate taxes


The legislature easily approved a measure in the spring that will raise taxes on some of the largest Illinois businesses.  Apparently they didn't know what they were passing.  Bill Wheelhouse spoke with Paul Merrion of Crain's Chicago Business.

  House Speaker Michael Madigan wants to cut the state's corporate tax rate in half. It's an apparent about face on tax policy that's left some Republicans scratching their heads.

Madigan says his proposal aims to create a friendlier business climate in Illinois. Corporations would pay a 3.5 percent tax, down from the current 7 percent.

It's a sharp turn from three years ago when Madigan pushed to increase the corporate tax rate along with the individual income tax.

This week, among the topics of discussion: corporate tax incentives, interest on state bonds, and more on state pensions.

WUIS/Illinois Issues

  When Gov. Pat Quinn signed a law this winter boosting Illinois’ corporate income tax rate, he was hardly its only fan. The governors of Indiana and Wisconsin could barely contain their glee.