Chicago Mag has published an article by Whet Moser discussing the correlation between Illinois's state budget, lack of estate tax in 2010, and proposed tax breaks for CME Group Inc. and CBOE Holdings. According to the article, Illinois's estate tax piggybacks the federal estate tax and, likewise, was nonexistent in 2010. This lack of an estate tax left a one year gap in estate tax revenues and a hole in Illinois's state budget.
See Whet Moser, "Death and Taxes: Why Illinois's Estate Tax Went into a Coma and How Much It Cost," ChicagoMag.com (Oct. 25, 2011).
Posted by Brian Spring, Associate Editor, Wealth Strategies Journal.
See Whet Moser, "Death and Taxes: Why Illinois's Estate Tax Went into a Coma and How Much It Cost," ChicagoMag.com (Oct. 25, 2011).
Posted by Brian Spring, Associate Editor, Wealth Strategies Journal.
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