Article I of the United States Constitution created and empowered our legislative branch of government. The United States Congress leads the legislative branch. Congress includes both the House of Representatives and the Senate. Generally speaking, Congress makes our laws.
Income Tax returns and schedules. The Illinois Business Income Tax rate for tax years. ending on or after December 31, 2015, is 5.25 percent. (.0525) for taxpayers taxed as corporations, and 3.75. percent (.0375) for taxpayers taxed as trusts or estates. The instructions for overpayments to be carried forward.
The state of Illinois has the second highest property taxes in the country. The statewide average effective tax rate is 2.13%, nearly double the national average. The average homeowner in Illinois pays $3,887 annually in property taxes. In some areas the average payment is upwards of $5,000 per year.