Column: State income-tax revenue strong in December, but corporate taxes down – Champaign News-Gazette*

Jim Dey: "There is, however, one troubling aspect to the December revenue report — corporate income taxes. They dropped by $224 million in December, falling from $1.184 billion in December 2022 to $960 million in December 2023. That’s a decline of 18.9 percent. Other smaller revenue categories were all over the map."
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Pensions Paid First
2 years ago

“Illinois’ current state budget picture continues to shine, largely on the basis of strong growth in state income-tax revenue.

A recent report from state budget overseers shows that income-tax revenue payments in December exceeded those from the same period a year by $344 million. That sum made up the lion’s share of the overall monthly revenue growth of $383 million in December.”

More good news for Illinois revenue.

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