Illinois receives poor rankings in the Tax Foundation 2023 Tax Climate Report. The author of the report explains why the Land of Lincoln did so badly. Illinois finished 36th overall in the report, which looks at the state’s corporate taxes, individual income taxes, sales taxes, property taxes, and unemployment insurance. Jannelle Fritts of the Tax Foundation worked on the report and said Illinois could have been ranked even lower than 36th if not for one tax.
Fritts also explained where Illinois sees the highest taxes.
Illinois also has a significant unemployment debt that could raise taxes on employers if not addressed in the coming weeks.
story from Illinois Radio Network
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