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Illinois Businesses Brace for Potential Tax Increase in Pritzker’s Budget Plan
Manage episode 406604777 series 3087016
Illinois business owners are bracing for a potential tax hit from Gov. J.B. Pritzker. The governor’s proposed budget extends the cap on business net operating losses, but increases the cap to $500,000. His office estimates the “revenue adjustment” will raise $526 million, the bulk of the nearly $900 million of tax increases in his $52.7 billion spending proposal.
--- Support this podcast: https://podcasters.spotify.com/pod/show/illinois-in-focus/support292 επεισόδια
Manage episode 406604777 series 3087016
Illinois business owners are bracing for a potential tax hit from Gov. J.B. Pritzker. The governor’s proposed budget extends the cap on business net operating losses, but increases the cap to $500,000. His office estimates the “revenue adjustment” will raise $526 million, the bulk of the nearly $900 million of tax increases in his $52.7 billion spending proposal.
--- Support this podcast: https://podcasters.spotify.com/pod/show/illinois-in-focus/support292 επεισόδια
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