Illinois HJRCA0016 proposes to amend the state constitution to allow graduated income tax rates and limit corporate tax rates.
Illinois HJRCA0016 proposes to amend the Revenue Article of the Illinois Constitution to allow graduated income tax rates and limit corporate tax rates. The bill removes the requirement for a non-graduated income tax rate and mandates that the highest corporate tax rate cannot exceed the highest individual tax rate by more than a ratio of 8 to 5. The amendment would take effect upon being declared adopted.
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