Illinois and North Carolina Enact Substantial Budget Bills
After Illinois Governor Bruce Rauner (R) vetoed the Illinois budget bill (S.B. 9) on July 4, 2017, the General Assembly overrode the governor’s veto by the Senate on July 4 and by the House on July 6, 2017. As a result, the Illinois personal and corporate income tax rate will increase, effective July 1, 2017. In addition to other income tax changes enacted, Illinois Public Act 100-0022 also enacts certain other tax changes, including for sales and use taxes and tax liens.