The Hancock-Henderson Quill, Inc.

More Taxes

by Dessa Rodeffer, Quill Publisher/Owner

4 April 2007

In talking with Beth Bennett yesterday, long-time legal advocate for the Illinois Press Association, I found that the Illinois Press Association is taking their first ever strong stand against an Illinois governor's taxing plan.

Governor Blagojevich says that GRT (Gross Receipts Tax) will only apply to businesses that make more than $2 million, according to his web site press release.

"The GRT will tax service industries at a low 1.95 percent rate, while manufacturers, construction, retail and wholesale companies will be taxed at an even lower .85 percent," he says.Ê "Exports will not be taxed. The plan also mitigates costs being passed on to consumers by excluding certain goods, such as retail food and pharmaceuticals." He adds, "Large corporations will finally pay their fair share."

But Bennett says it will be devastating for Illinois, discouraging businesses who are considering coming here, raising cost to bigger business which will be passed on to all of us and to those in smaller businesses.

More money is needed, she said, but there are better ways than to cause an economic disaster. "We are making this our top priority," she said.

If it sounds too good to be true, we better check it out.