Breaking News Bar
posted: 11/27/2012 9:46 AM

Ill. legislative leaders back tax `transparency'

hello
Success - Article sent! close
 

Associated Press

SPRINGFIELD -- Democratic leaders in the Illinois General Assembly are backing legislation that would require some corporations to reveal their income-tax bills.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Senate President John Cullerton and House Majority Leader Barbara Flynn Currie will announce their support Tuesday for the measure. Tuesday is the first day of the Legislature's fall veto session.

The Chicago Democrats want publicly traded corporations to post online the amount of corporate income taxes they paid two years prior to publication. The lawmakers say that would reduce potential competitive disadvantage to businesses that must publicize expenditures.

Officials say two-thirds of corporations pay no income taxes because of deductions, tax breaks and "loopholes."

Backers say lawmakers can't decide on a fair corporate tax structure without knowing what businesses pay.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here