Thursday, December 18, 2014

Your Illinois Income Tax is Going to be Rolled Back Come January 1, 2015.

From Crains Chicago Business>>>>>



(AP) — Illinois businesses are reminded to adjust the way they calculate income taxes for employees starting Jan. 1.

The Springfield bureau of Lee Enterprises newspapers reports Gov. Pat Quinn's administration posted a notice this week on the Illinois Department of Revenue website with the information.

Employers are reminded that the temporary income tax rate of 5 percent rolls back to 3.75 percent at the beginning of 2015. State revenue department spokeswoman Sue Hofer says officials wanted to make sure employers can make adjustments.

She says "people will notice that in their paychecks."

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