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Taxes Affecting Small Businesses to be Taken Up in Veto Session
When state lawmakers return to the Capitol Wednesday, one of the problems before them is whether to repeal what a business group thinks amounts to a tax increase.

The Illinois Chamber of Commerce says that a tiny change in this year's state budget will mean that partnerships -- which includes thousands of businesses in Illinois -- will pay the 1.5 percent income replacement tax on all income rather than just on a small portion.

The chamber's vice president of government affairs, Todd Maisch, says these companies are already paying the 3 percent corporate income tax, and the replacement tax on some income, and now this is a demand for more money. Those dollars would go to local governments, not the state. He says if the change isn't repealed by the end of the year, those partnerships will lose more money in an already brutal economy.

Lawmakers are scheduled to spend six days this month in veto session.

(Illinois Radio Network)
10 13 09 by Newsroom
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