Tag

Illinois taxation on services

Browsing

The 2016 Cubs’ World Series win finally put to rest the long standing “Wait ’Til Next Year” slogan. However, the slogan may be resurrected in connection with Illinois’s state budget.  For nearly two years, the Illinois legislature has failed to pass a comprehensive annual budget.  Last year, on June 30, 2016, the ongoing partisan divide resulted in Illinois Governor Bruce Rauner signing a last-minute, stopgap budget to fund critical state operations for the remainder of 2016.  With just over a month remaining in the 2017 legislative session, there appears to be little traction on any significant tax reform.  That said, a number of bills have sparked widespread attention in the Illinois taxpayer community over the past few months and potentially may foreshadow significant tax reform in the coming years.