Conamend-income Tax Rates
Introduced: it can still change before the session ends.
- Stage
- Introduced
- Latest action
- May 2, 2010
What it does
Proposes to amend the Revenue Article of the Illinois Constitution with respect to limitations on income taxation. Provides that the rates shall be non-graduated, by category. The categories are (i) individuals (under $250,000), (ii) individuals ($250,000 or more), and (iii) corporations. Combines an individual's income with that of his or her spouse. Provides that in any such tax imposed upon individuals ($250,00 or more), the rate shall be the rate imposed upon individuals (under $250,000) for net income under $250,000 and the higher of (i) 6% or (ii) twice the rate imposed upon individuals (under $250,000) for net income of $250,000 or more. Provides that the rate on corporations shall…
Where it stands
Introduced (Current step)
Committee (Not started)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money in Illinois.