Tag Archive: "Illinois"
-
Illinois Bank Holding Companies Should Review Their Franchise Tax Filings
We have heard from several banks around the state that Illinois has stepped up their reviews of holding company franchise tax filings in effort to collect underpaid franchise tax.
-
Illinois Enacts Major Tax Bills Affecting Income, Estate, Franchise, and Sales Tax
During June, the Illinois legislature enacted a slew of new tax legislation including major changes to income, estate, franchise, and sales tax provisions. These changes have far reaching implications for banks, their owners, and customers. Potential Increase to Personal Tax Rates Illinois currently imposes an individual tax rate of 4.95%, under the state’s constitutional mandate […]