Tax

Officials say that a U.S. Supreme Court ruling that retailers must collect sales tax from buyers in other states could mean more than $200 million a year to Illinois.

The Illinois House has endorsed the idea of switching to a graduated income tax. 

A proposal could give more Illinois voters a chance to lower their property taxes.

Illinois House Republicans are lashing out at a Democratic suggestion that the state should adopt a graduated income tax.

The U.S. Treasury has ruled that Illinois homeowners who prepaid their 2018 property taxes last year will receive the full state and local tax deduction.

Peoria to Implement Stormwater Utility Fee in June

Mar 14, 2018
Abby flat-coat / CC BY-NC-ND 2.0 / Flickr

The city of Peoria needs to fund repairs to some 400 stormwater problem areas, costing about $17 million. That is in addition to paying for a fix for the city’s combined sewers that empty stormwater and sewage into the Illinois River during heavy rainfall. Along with a possible sewer rate increase, the stormwater fee could help the city bring in additional revenue for upcoming projects.  

The Illinois Senate has OK'd a revised Medicaid funding plan for hospitals. 

Chicago Mayor Rahm Emanuel and the city's airline carriers are in the final stages of negotiating an $8.5 billion deal to dramatically expand O'Hare International Airport.

Senate President John Cullerton is urging Gov. Bruce Rauner to propose a budget plan that's balanced.

Illinois taxpayers will be paying an in-between rate on 2017 income as a result of the state's tax increase.

Congressman Davis Ready for Tax Cuts

Oct 20, 2017

A central Illinois congressman is ready to vote for tax cuts.

Soda Tax Not Done ---Yet

Oct 11, 2017

Cook County Commissioners took the final vote to repeal the controversial sweetened-beverage tax Wednesday. But it’s not gone just yet.

Peoria Public Radio

Cook County officials are expected to take a major step toward repealing a Chicago-area tax on sweetened beverages. The county board's finance committee is meeting Tuesday to vote on a measure to repeal the unpopular penny-per-ounce tax. Commissioner Sean Morrison said last week he has enough "yes" votes to eliminate the tax effective Dec. 1 and withstand any potential veto.

A Cook County commissioner says a deal has been reached to repeal a Chicago-area tax on sweetened beverages. 

Senate Democrats are paring back on the services that would be subject for the first time to the Illinois sales tax.  The Revenue Committee discussed changes to a revenue measure that's not been called on the Senate floor. 

The Democratic-controlled Illinois Senate has narrowly endorsed a plan requiring presidential candidates to release their tax returns.  It would mandate that presidential candidates release five years' worth of tax returns to appear on the general election ballot in Illinois. 

Tanya Koonce / Peoria Public Radio

Federal agents continued searching Caterpillars Headquarters building in downtown Peoria overnight. Search warrants were executed yesterday at Caterpillar offices in Peoria, East Peoria and Morton. The U.S. Attorney’s Office confirms the multi-agency investigation included the FDIC Office of Inspector General, the IRS Criminal Investigation Division, and the US Department of Commerce, Office of Export Enforcement.

 

AARP.com

State leaders are not discussing how Illinois can bring in more tax money. But given the state's growing deficit they'll get there one day.  

The leading group for retirees is on the offensive over one particular tax break.  

Illinois is a rare state that does not tax retirement income.

No politician has openly called for starting to, but it's an option. The nonpartisan Civic Federation recommends it as a way to stabilize the state's finances, especially as the number of senior citizens living in Illinois is projected to grow. 

The Peoria City Council will vote on property and motor fuel tax hikes Thursday night, among other increases.  It's part of a plan to put more than $5 million in new revenue for roads:

Pekin Council Tables Sales Tax Vote To March

Sep 21, 2015

Pekin Council tables vote on sales-tax increase

Sep 14, 2015

Illinois Democrats and Governor Bruce Rauner remain at a standstill over a new state budget. On Monday, the Governor tweaked a property tax freeze proposal to include increased state funding for struggling schools. Jenna Dooley has more on how the plan could affect homeowners:

Two tax policy organizations with distinct views have released a joint report explaining why taxing more consumer services would help stabilize Illinois tax revenue.

East Peoria considers array of budget options

May 19, 2015

The City of East Peoria is looking at possible options to help balance its books in the long-term.  The move comes amid looming state budget cuts:

Gov. Rauner defends $100M in business tax credits

Apr 9, 2015
WUIS.org

Illinois businesses will receive $100 million in tax credits, according to a report published by Crain's Chicago Business.  During an appearance before the State Journal Register editorial board, Governor Bruce Rauner defending awarding them.  Rauner says they had been negotiated by his predecessor, former Governor Pat Quinn. He says he’s fulfilling the agreements, because the businesses had an understanding of "timing and circumstances."

Brothers plead guilty to $6M in Peoria tax fraud

Dec 17, 2014

Two brothers who owned a gas station in Peoria pled guilty to more than $6 million in tax fraud. Shaher and Mohammad Mizyed owned the Tira Oil gas station and convenience store on North Prospect Road. Violating tax laws carries up to five years in prison and the penalty for mail fraud is up to 20 years. Sentencing is set for April.  

Rauner could follow income tax drop schedule

Dec 8, 2014

Illinois Governor-elect Bruce Rauner seems to be serious about letting the state’s income tax drop next year.  

Before State Senator Mike Frerichs is sworn in as Illinois' treasurer next month, he's got a few more votes to cast as a legislator. But Frerichs doesn't think one of them will be for extending the 2011 temporary income tax increase.  

District 150 proposing property tax rate increase

Nov 24, 2014

Peoria School District 150 is proposing a slight increase in its portion of property tax bills. The proposal will amount to an additional eight-dollars for the owner of a roughly $120,000 home. The District 150 School Board has a public hearing on the proposed levy at its next meeting. 

Rauner stops in Peoria on state victory tour

Nov 7, 2014

Governor-elect Bruce Rauner says he wants the general assembly to avoid taking up any big issues during this month’s veto session.  Rauner made his comment in Peoria Friday during a state-wide victory tour.  Rauner repeated his call that lawmakers should wait until the new general assembly is seated before taking up major issues:

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