Searching Content indexed under Income Tax by Fred Ackerson ordered by Published Date Descending.
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Choices For Illinois Taxpayers In Implementing The 2017 Income Tax Rate Increase
Last year, Illinois enacted a mid-year income tax rate increase. Effective July 1, 2017, Illinois increased the income tax rate for individuals, trusts and estates from 3.75 percent to 4.95 percent, and for corporations from 5.25 percent to 7 percent.
United States
19 Feb 2018
Tax Changes Implemented As Part Of Revenue Package Supporting Illinois Budget
Yesterday afternoon, after months of wrangling and a marathon 4th of July weekend session, the Illinois House of Representatives voted to override Governor Bruce Rauner's veto of Senate Bill (SB) 9...
United States
18 Jul 2017
Plain And Simple: Maryland Tax Court Holds Insurance Company Is Exempt From Corporate Income Taxes
Maryland, like many states, exempts "insurance companies" from the payment of corporate income taxes because these entities are generally subject to tax under some other section of the tax law, insurance law or both.
United States
14 May 2015
Illinois Tax Amnesty Program Ends November 8, 2010
Under the recently enacted Illinois Tax Amnesty Program, taxpayers can avoid penalties and interest for eligible prior year tax periods, but they risk 200 percent penalties and interests for liabilities not paid during the amnesty program, which ends November 8, 2010.
United States
26 Oct 2010
Illinois "Corporate Loophole" Legislation (Senate Bill 1544) Sent To The Governor
The Illinois General Assembly sent the Governor a "corporate loophole" bill (SB 1544) that would eliminate several tax planning opportunities under the Illinois Income Tax Act and rewrite the rules for apportionment of income of service and transportation businesses.
United States
19 Jul 2007
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