What the tax rollback means to Illinois residents

“Tax rollback day” approaches and it will mean more money in the pockets of Illinois residents.

Under the terms of Illinois’ largest-ever tax increase law (passed by legislative Democrats in a 2011 lame-duck session and signed by Gov. Quinn) the income tax paid by individual Illinois residents is scheduled to be partially rolled-back from 5% to 3.75% on January 1, 2015.  The corporate income tax rate will be rolled back at the same time.

Read more about the tax rollback:
Illinois employers: Don't forget income-tax rollback
Illinois tax increase to roll back as planned
Get a better handle on state finances