New 2025 Tax Rates and Threshold
With the standard deduction, generally speaking, you have to choose whether to take it or add up your itemized deductions and claim those instead. This was just an advisory question which will not change any laws. But lawmakers could use the results to pursue a constitutional amendment, opening Illinoisans and businesses up to higher taxes without guaranteeing any property tax relief despite the referendum’s promise. Supporters of the plan, including state Rep. Jay Hoffman, D-Collinsville, touted the vote as the…
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