News & Analysis as of

Illinois State Taxes

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (8/13)

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Pritzker Signs ‘Sonya Massey’s Bill’ Into Law, Requiring Stricter Background Checks for Police Hiring- “The new law requires law enforcement agencies across Illinois to review all aspects of a person’s background and...more

Kilpatrick

The Illinois Franchise Tax: A Four-Part Series

Kilpatrick on

This four-part series of articles is intended to provide a deep dive into the Illinois State Franchise Tax (the “Franchise Tax”) and should be read sequentially to be best understood....more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (7/28)

Cozen O'Connor on

Pritzker calls Texas GOP’s remap effort ‘cheating,’ doesn’t rule out Illinois response “Gov. JB Pritzker is leaving the door open to changing Illinois’ congressional maps to “counterbalance” an attempt by Texas politicians...more

McGuireWoods Consulting

Corporate Tax Changes In Illinois FY 2026 Budget Package

The 2025 regular session of the Illinois General Assembly adjourned on June 1, 2025. The General Assembly passed a fiscal year (FY) 2026 budget package which includes corporate tax changes that will significantly impact...more

Fox Rothschild LLP

At Stake - June 5, 2025

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The Illinois Gaming Board (IGB) held its monthly meeting on Thursday, June 5, 2025. The meeting was hybrid with in-person accessibility at 160 N. LaSalle St., 5th Floor Auditorium and availability via livestream. Board...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (6/2)

Cozen O'Connor on

Illinois Democrats pass budget in final minutes with sports betting tax hike- “Illinois lawmakers approved a $55.2 billion state budget package minutes ahead of a key constitutional deadline Saturday night, relying on tax...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor May 5, 2025

Cozen O'Connor on

Revenue warning signs flash as Springfield preps for budget talks - “Already there are signs that Gov. JB Pritzker’s budget plan announced in February, which projected $55.4 billion in revenue, was optimistic. The...more

Jenner & Block

Illinois Supreme Court Rules in Favor of City of Rolling Meadows in Tax Jurisdiction Case

Jenner & Block on

In a unanimous opinion delivered by Justice O'Brien, the Illinois Supreme Court affirmed that the Illinois Department of Revenue (IDOR) has exclusive jurisdiction over sales tax misallocation disputes between municipalities....more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (3/17)

Cozen O'Connor on

Illinois eyes taxing drivers by the mile rather than by the gallon of gas- “Under proposed legislation, Illinois would explore the viability of reducing reliance on the state’s gas tax by putting in place a “road usage...more

Cozen O'Connor

Illinois Insights Special Edition: 2025 Budget Address Recap

Cozen O'Connor on

On Wednesday, February 19, Governor J.B. Pritzker delivered his seventh annual Budget Address to a joint session of the General Assembly, where he unveiled his $55.2 billion FY26 Executive Budget - marking an approximately $2...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (2/12)

Cozen O'Connor on

Civic Federation Says Illinois Should Extend Sales Tax to Services to Help Bridge $3B Budget Deficit - “Illinois should extend its sales tax to services like haircuts, dry cleaning and plumbing, the nonpartisan Civic...more

Franczek P.C.

Illinois Dept. of Revenue Releases Final 2021 Cook County Equalization Factor

Franczek P.C. on

On Tuesday, the Illinois Department of Revenue released the final 2021 Cook County equalization factor.  The factor (sometimes referred to as the multiplier) for 2021 is 3.0027.  The tentative factor released in June was...more

Akerman LLP - SALT Insights

Illinois DOR Proposes to Change Income Tax Liability for Businesses that Make Sales to Foreign Countries

The Illinois Department of Revenue (“IDOR” or “Department”) recently issued a Notice of Proposed Amendment to amend its Regulation (86 Ill. Admin. Code § 100.3200) governing the “throwback” and “throwout” apportionment...more

Saul Ewing LLP

Illinois Appellate Court: Illinois Construction Industry Groups Have Standing to File Lawsuit But Lose Their Constitutional...

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Under a recent Illinois appellate court decision, local Illinois construction industry groups were held to have standing to sue Cook County, Illinois, but those groups lost on their substantive claim that the County had...more

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