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Because of a fiscal crisis in Illinois during his first term in office, he was forced to ask the General Assembly for new tax revenue. [citation needed] In 1933, he signed Illinois's first permanent sales tax law into effect with an inaugural rate of 2.0%. Horner also signed a bill in 1935 increasing the Illinois sales tax rate to 3.0%.
The Illinois Department of Revenue has increased in size in line with the creation of new taxes within the state and the expansion of existing taxes. A gasoline tax was enacted in Illinois in 1927, the sales tax was enacted in 1933; the state income tax was enacted in 1969, and the first lottery tickets were sold in 1974 in the state capital of ...
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There is no sales tax on food items, but prepared meals purchased in a restaurant are subject to a meal tax of 6.25% (in some towns voters chose to add a local 0.75% tax, raising the meal tax to 7%, with that incremental revenue coming back to the town). Sales tax on liquor was repealed in a 2010 referendum vote.
Illinois residents will vote on a 3% tax for millionaires in November. The governor says the tax could generate $4.5 billion annually and alleviate high property taxes. Illinois has the second ...
On November 8, 2016, Illinois voters approved the Illinois Transportation Taxes and Fees Lockbox Amendment, a legislatively referred constitutional amendment that prohibits lawmakers from using transportation funds for anything other than their stated purpose.
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To reverse Illinois’ economic doldrums, Halbrook said the state must address high property taxes, lower personal and corporate income taxes, and simplify the state's tax code.