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Illinois residents pay 10% of annual income to state and local taxes: study

Summary by MYSTATELINE

ILLINOIS (WTVO) — According to a new report, Illinois residents pay 10% of their annual income to state and local taxes. The analysis, by WalletHub, found that income, property, sales, and excise taxes combined cost each Illinois taxpayer 10.2% of their annual pay. The study found that property taxes counted as the largest portion of residents' tax burden, at 3.81%, with state excise and sales tax at 3.78%. WalletHub also found that Illinois ran…

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WirePoints Illinois Financial News

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Illinois bill targets overtaxing of medically-required vehicle equipment – Center Square

According to Illinois statute, consumers should pay a 1 percent tax on medically-required equipment and the customary 6.25 percent or more on the rest of the vehicle. State Sen. Don DeWitte said the law is applied when people add the equipment after they receive their vehicle, but they get charged 6.25 percent or more on the equipment when it comes with the car from the factory.

2 days ago

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Illinois residents pay 10% of annual income to state and local taxes: study

2 days ago

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The Center Square

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Illinois bill targets overtaxing of medically-required vehicle equipment

(The Center Square) – People with disabilities would no longer be overtaxed for adaptive vehicle equipment with a bill from Illinois state Sen. Don DeWitte, R-St. Charles.

2 days ago·United States

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