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Home > Illinois > SB2283
Chief Sponsor:

Matt Murphy

Tagged in: Corporations, Tax

Latest Update: Tuesday, December, 02nd 2008

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INC TX-RATE DECREASE

Amends the Illinois Income Tax Act. Decreases the rate of tax on individuals and on trusts and estates from 3% to 2.85% in 2008, 2.7% in 2009, and 2.5% in 2010 and thereafter. Decreases the rate of tax on corporations from 4.8% to 4.56% in 2008, 4.32% in 2009, and 4% in 2010 and thereafter. Makes corresponding changes. Effective immediately.
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Latest Actions
  • 02/14/2008 - Filed with Secretary by Sen. Matt Murphy
  • 02/14/2008 - First Reading
  • 02/14/2008 - Referred to Rules
Bill Text
File name Last Updated
SB2283 Bill Text Introduced PDF02/14/2008