Digital Access

Digital Access
Access saukvalley.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more! News you use every day! Daily, Daily including the e-Edition or e-Edition only.

Text Alerts

Text Alerts
Choose your news! Select the text alerts you want to receive: breaking news, prep sports scores, school closings, weather, and more. Text alerts are a free service from SaukValley.com, but text rates may apply.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Sign up for free e-newsletters today.
State

Corporate tax bill rejected in state House committee

SPRINGFIELD (AP) – An Illinois House committee has voted down legislation requiring that some corporations make their income tax bills public.

The revenue and finance committee rejected the proposal Sunday, keeping it in committee. Several Republicans called it anti-business and anti-employment.

The Senate approved the bill in November.

Senate President John Cullerton and House Majority Leader Barbara Flynn Currie have said most Illinois corporations don’t pay any income tax but state officials don’t know who they are. The Chicago Democrats have said the proposal would help lawmakers decide future tax policy and whether corporate tax breaks are effective.

Publicly traded corporations would have to post online the amount of corporate income taxes they paid two years prior to publication.

Business groups say tax bills are confidential.

___

The bill is SB282.

Online: http://www.ilga.gov

Loading more