Posted 3/25/2007 10:43 (#125239 - in reply to #124326) Subject: RE: Illinois Gross Recipts Tax
You didn't hear wrong. Its particularly unfair to businesses with high volume and small margin, like farming. What they don't tell you is that the GR have to be over 1M but if you hit it the tax starts at the first dollar. Even a smaller farmer and all consumers in the state are effected as your input costs will go up. IL farm bureau is opposed of course as are all business associations.