Gross receipts tax a death threat to Illinois business

From: Chicago Sun-Times | Date: May 14, 2007| Author: | Copyright information

The gross receipts tax proposed by Gov. Blagojevich would be -- bottom line -- a death blow for business in Illinois.

Not many had heard of it when Cook County Assessor Jim Houlihan first proposed the gross receipts tax as a way of lowering property taxes.

Houlihan raised the idea at a luncheon meeting of property tax professionals last December, where few understood what it meant.

Since then, Blagojevich picked up on the issue and put it before the General Assembly. Now a lot of people are beginning to understand what it means.

Businessmen have looked into the bill, written to me, and ...

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