Analyzing State Population Growth Among Various Income Tax Structures

Abstract While it was previously argued that gradual income taxation did not decrease population growth in Wisconsin, Iowa, and Minnesota, some still remain fixated that graduated income taxation will result in an outmigration of individuals to other states. This brief study analyzes population growth for each state from 2010 to 2019 and then seeks toContinue reading “Analyzing State Population Growth Among Various Income Tax Structures”

Illinois’ Sales Tax Structure

The State’s Tax Reliance on Goods Overview The State of Illinois primarily taxes goods as opposed to services. Currently, the state taxes 17 services with 12 coming from public utilities. This narrow base is poor to adapting to changing in the economic climate because it becomes overly dependent on taxes from only a few services belonging toContinue reading “Illinois’ Sales Tax Structure”

Income Taxation in Illinois

The modern Illinois Constitution, adopted in 1970, sets forth a non-gradual structure where every individual pays the same base tax rate of 4.95 percent. This current rate of 4.95 percent was adopted by the General Assembly in 2017 and implemented beginning in 2018, up from the previous 3.75 percent. While different rate structures cannot beContinue reading “Income Taxation in Illinois”