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St. Louis and St. Louis County are among the jurisdictions where voters approved the tax, but there are questions about the scope of countywide marijuana taxes.
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The bill would slice the corporate rate in half and exempt all Social Security benefits from state taxation.
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The plot has been turned over to the department’s Criminal Tax Investigation Bureau.
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The legislation decreases the top rate to just under 5% and sets the stage for further reductions. The cut was one of the goals of the special session Parson called.
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Gov. Mike Parson in July announced his intent to hold a special session to address two vetoes he issued. The legislature will consider language on both tax credit programs related to agriculture and a permanent income tax cut.
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The governor intends to soften the effect of inflation on Illinoisans by suspending the grocery tax, increases in the motor fuel tax and providing a 5% property tax rebate to some owners.
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Municipalities can levy up to 3% on recreational cannabis sales on top of existing sales taxes. Cities around the Metro East are using that new revenue in different ways.
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The $28 million increase in the budget is meant to cover some “one-time costs” the county will incur this year, plus wage increases and county projects that were postponed due to the pandemic.
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Missouri lawmakers soundly defeated efforts to add referendum to bill to raise tax 12.5 cents per gallon.
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The computer, chair or workplace you set up to work at home during the pandemic is probably not tax deductible.