CONNECT WITH WMAY
Jim Leach Jim Leach
6:00am - 9:00am
The Jim Leach Show

Contact Me

My Blog

Infinite Menus, Copyright 2006, OpenCube Inc. All Rights Reserved.
Google
Custom Search
October 22, 2014, 8:50 am
970 WMAY News

Madigan Proposes Corporate Tax Cut


Illinois corporations could see a sharp decrease in income taxes under a proposal from House Speaker Mike Madigan. 

 

Madigan has introduced legislation to cut the corporate income tax rate in half, effective retroactively back to January 1st.  Dropping that rate from 7 down to 3.5 percent will save businesses $1.5 billion a year, according to Madigan’s office. 

 

A second corporate tax would remain intact, for a total corporate tax rate of six-percent if Madigan’s plan is approved.  That’s lower than most surrounding states, and Madigan says that should help Illinois attract and retain businesses.

News Video

On Air Video


Facebook Fans


@WMAYSpringfield
LinkedUpRadio Envisionwise Web Services