Estate Tax
Illinois is one of just 12 states that still has a state estate tax. Thirty-eight other states do not have a state estate tax. To keep Illinois competitive, we need to eliminate this tax. The estate tax is imposed on a decedent’s estate before distribution to heirs. The amount of the tax is calculated after…
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The Land of Lincoln distinguishes itself by being among the most unfriendly of the 50 states when it comes to taxes. Illinois has been ranked numero uno as the state with the highest tax burden. Death Taxes and Escaping Illinois Just one of those unfriendly taxes is the estate or death tax. The tax…
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SPRINGFIELD – Illinois is one of just 12 states that still has a state estate tax, and State Sen. Jil Tracy (R-Quincy) is sponsoring legislation to eliminate that tax and keep Illinois competitive with the 38 other states in the nation. Senate Bill 140 amends the Illinois Estate and Generation-Skipping Transfer Tax Act to eliminate the state…
Read Full Article The Beatles song “Hello, Goodbye” is one of contradictions. The City of Quincy and the State of Illinois, have their own contradiction. Quincy says “Hello” and Illinois says “Goodbye!” As the Beatles sing it: You say goodbye and I say hello Hello, hello I don’t know why you say goodbye, I say hello The “Quincy’s…
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