Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Register
Results 1 to 8 of 8
  1. #1
    Unchained mojavebassman's Avatar
    Join Date
    11.13.03
    Age
    44
    Location
    Springfield IL
    Posts
    499
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Unchained
    Last Online

    07.28.13 @ 01:39 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default Gross Receipts Tax

    For fellow linkers who live in states with a gross receipts tax, what are your opinions? Illinois is considering an additional tax on businesses making more than $2 million in sales, calling it a GRT. Lots of opposition, but the governor is saying it will close the corporate loopholes. Thoughts?

  2. #2
    Atomic Punk
    Join Date
    01.29.02
    Age
    49
    Location
    somewhere over the rainbow
    Posts
    22,946
    Last Online

    12.11.17 @ 04:37 PM
    Likes
    842
    Liked 1,229 Times in 448 Posts

    Default

    That tax will help increase the cost of consumer goods, which in turn increases the taxes collected on those consumer goods... Win-Win for the State...


    The Facts on Illinois’ Tax Climate
    Here are some basic facts on Illinois’ tax system and how it compares to other states:


    Tax Freedom Day Arrived on May 2nd in Illinois

    Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2007, Illinois taxpayers had to work until May 2nd to pay their total tax bill, ranking the state 14th nationally. Illinois' Tax Freedom Day falls two days later than national Tax Freedom Day in 2006. The Tax Freedom Days of neighboring states are: Wisconsin, May 2nd (ranked 8th nationally); Iowa, April 21st (ranked 35th nationally); Missouri, April 20th (ranked 40th nationally); Kentucky, April 21st (ranked 36th nationally); and Indiana, April 23rd (ranked 30th nationally).
    _______________________________

    Illinois’s State/Local Tax Burden Just Below National Average

    Estimated at 10.8% of income, Illinois’s state/local tax burden ranks 22nd highest nationally, just below the national average of 11.0%. Illinois taxpayers pay $4,594 per capita for state and local taxes on per-capita state income $42,428.
    _______________________________

    Illinois' 2007 Business Tax Climate Ranks 25th

    Illinois ranks 25th in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property. Neighboring states ranked as follows: Wisconsin (38th), Iowa (43rd), Missouri (15th), Kentucky (39th) and Indiana (12th).
    _______________________________

    Illinois' Individual Income Tax System

    Illinois' personal income tax system consists of a flat 3% rate on federal adjusted gross income. That rate is the lowest among states that levy individual income taxes. Illinois' 2004 individual income tax collections were $568 per person, which ranked 35th highest nationally.
    _______________________________

    Illinois' Corporate Income Tax System

    Illinois' corporate tax structure consists of a flat rate of 7.3% on all corporate income. Among states levying corporate income taxes, Illinois' rate ranks 23rd highest. In 2004, corporate tax collections reached $101 per capita, which ranks 16th highest nationally.
    _______________________________

    Illinois Levies Sales Tax Above National Median

    Illinois levies a 6.25% general sales or use tax on consumers, which is above the national median of 5%. State and local governments combined collect $622 per capita in general sales taxes, which ranks 39th nationally. Illinois' gasoline tax stands at 19.3 cents per gallon, which ranks 34th highest nationally. Additionally, the state's general sales tax is applied to gasoline purchases. The cigarette tax stands at 98 cents per pack of twenty and ranks 19th nationally. The sales tax was adopted in 1933, the gasoline tax in 1927 and the cigarette tax in 1941.
    _______________________________

    Illinois Property Taxes: Comparatively High

    Illinois is one of the 37 states that collect property taxes at both the state and local levels. As in most states, local governments collect far more. Illinois' localities collected $17,831,744,000 in property taxes in fiscal year 2004, which is the latest year for which the Census Bureau has published state-by-state data. At the state level, Illinois collected $57,084,000 in property taxes during FY 2004. Combined state/local property taxes were $17,888,828,000 in 2004, which brings per capita collections to $1,407 (ranking 9th highest nationally).
    _______________________________

    Federal Tax Burdens and Expenditures: Illinois is a Donor State

    Illinois taxpayers receive less federal funding per dollar of federal taxes paid compared to the average state. In 2004, Illinois citizens received approximately $0.73 in the way of federal spending per dollar of federal taxes paid. This ranks the state 46th nationally and represents a slight rise from 1992, when Illinois received $0.72 per dollar of taxes in federal spending and ranked 47th nationally. Neighboring states and the amount of federal spending they received per dollar of federal taxation paid were as follows: Wisconsin ($0.82), Iowa ($1.11), Missouri ($1.29), Kentucky ($1.45) and Indiana ($0.97).
    Last edited by voivod; 05.10.07 at 08:49 AM.
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  3. #3
    Good Enough vanzefflin's Avatar
    Join Date
    08.17.04
    Location
    Oklahoma/Texas border
    Posts
    1,527
    Last Online

    10.26.17 @ 04:07 PM
    Likes
    69
    Liked 104 Times in 58 Posts

    Default

    Quote Originally Posted by mojavebassman View Post
    For fellow linkers who live in states with a gross receipts tax, what are your opinions? Illinois is considering an additional tax on businesses making more than $2 million in sales, calling it a GRT. Lots of opposition, but the governor is saying it will close the corporate loopholes. Thoughts?
    Attacking small business is soooooooo 'en vogue'. Misappropriations by these same politicians are exactly why these types of legislation have to be carried out every few years. Every level of government has made it nearly impossible to survive if you are self-employed.

    Where does it stop?

    Your governor is just another lying,cheating, piece of shit politician. I'm sure his family and friends would disagreee,so fuck them too. Every day we get a little closer to "Tea Fest 2".
    EDDIE IS THE ULTIMATE ROCK DOG!

  4. #4
    Unchained mojavebassman's Avatar
    Join Date
    11.13.03
    Age
    44
    Location
    Springfield IL
    Posts
    499
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Unchained
    Last Online

    07.28.13 @ 01:39 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    Thanks for all the info. Very helpful. The "tax fairness Plan" doesn't stand a chance of passing through the state legislature, but the Governor is threatening to cut $1 Billion from the budget if it's not passed, and he has threatened to veto any bill that has increases in sales or income taxes.
    Last edited by mojavebassman; 05.10.07 at 09:40 AM.

  5. #5
    Atomic Punk Dave's Dreidel's Avatar
    Join Date
    01.10.05
    Age
    47
    Location
    Kate Upton's Closet
    Posts
    37,846
    Favorite VH Album

    Alex, Dave, Ed and Mike
    Favorite VH Song

    The songs with Ed on them
    Last Online

    12.12.17 @ 06:05 AM
    Likes
    3,497
    Liked 18,092 Times in 8,939 Posts

    Default

    Also beware of what is called the "silent tax". For example, a politician can saw that he/she did not raise the tax rate, but let say the value of properties across the area are all raised significantly, it raises tax revenue with the same tax rate.

    Cheating bastards!
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  6. #6
    Eruption
    Join Date
    05.11.05
    Posts
    1,024
    Last Online

    10.19.17 @ 03:51 PM
    Likes
    1
    Liked 0 Times in 0 Posts

    Default

    The first go through the Illinois Congress got shot down 107-0. I wander where we will feel it? Us nobodies will be making the difference up somewhere.

    Party on Springfield!

  7. #7
    Unchained mojavebassman's Avatar
    Join Date
    11.13.03
    Age
    44
    Location
    Springfield IL
    Posts
    499
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Unchained
    Last Online

    07.28.13 @ 01:39 PM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    I'm sure either income or sales taxes will be raised rather than actually cutting out the pork. Illinois is so corrupt.

  8. #8
    Atomic Punk FORD's Avatar
    Join Date
    01.26.00
    Age
    51
    Location
    The Mighty Pacific Northwest
    Posts
    7,807
    Favorite VH Album

    All 6 of em!!
    Favorite VH Song

    Unchained
    Last Online

    10.22.17 @ 08:55 PM
    Likes
    0
    Liked 1 Time in 1 Post

    Default

    What's needed is NOT new taxes, it's enforcement of existing tax laws. That means close the loopholes, and force the bastards to pay what they owe, and that does NOT mean passing it on to the customer.

    As if CEO's who make 7 figure salaries can't afford to pay taxes for sitting on their fat asses and attending shareholder meetings??

    And for christ's sake, do NOT allow the corporatists to eliminate the estate tax. We have got to eliminate the Bush/Hilton/Rockefeller/Rothschild/Bilderburgers from this planet if we are ever going to save this country.
    Eat Us And Smile

    Welcome back, Van HALEN!!!!

    ...It's the BAND and Dave is really the cat that can front VH. He sang his ASS off and was really cool. No cheese here guys, this is filet Mignon! - Steve Lukather's comment after witnessing a Van HALEN 2007 rehearsal

    "What then is this bleating of sheep in my ears?"- 1 Samuel 15:14

 

 

Similar Threads

  1. Replies: 0
    Last Post: 07.15.02, 08:07 AM
  2. Funny but Gross joke....
    By BEZEK KNOWS BEST in forum VH Fans Meeting Place (Non-Music)
    Replies: 1
    Last Post: 01.28.02, 07:48 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •