Bill Status of SJRCA0018 98th General Assembly
Short Description: INCOME TAX RATES
Sen. Kwame Raoul - Michael Noland and Daniel Biss
| 1/13/2015||Senate||Session Sine Die|
Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution. Removes a provision that provides that a tax on income shall be measured at a non-graduated rate. Provides that, for any income tax imposed upon corporations, the rate shall not exceed the weighted average rate imposed on individuals by more than a ratio of 8 to 5. Effective upon being declared adopted.