Illinois’s November State Revenue Up 17% YOY on Income Taxes

Dec. 3, 2021, 4:14 PM

Illinois’s general fund revenue from state sources reached almost $3 billion in November, up 17% from a year earlier, on higher personal and corporate income taxes as well as sales taxes, according to a monthly report from the Commission on Government Forecasting and Accountability.

  • Personal income tax revenue rose 13% to $1.7 billion in the month from a year ago while corporate income tax revenue increased 57% to $91 million
  • November state sales tax revenue gained 13% to $858 million
  • YTD in fiscal 2022, which began July 1, revenue from state sources is up 3.6% to about $17 billion

Illinois’s ...

To read the full article log in.

Learn more about a Bloomberg Tax subscription.