Most & Least Taxing States 2012

By Bloomberg BNA - 2012-04-13T16:45:59Z

Photograph by Ken James/Bloomberg

Company Symbol % Change
14 of 53

Illinois

Income tax: 5% (flat rate)
State sales tax: 6.25%
Property tax per capita: $1,662
Inheritance tax: None
Estate tax: 0.8% to 16% with a $3.5 million exemption for 2012 ($4 million for 2013 and after)

Illinois passed a candy tax in 2009 to classify candy made without flour as merchandise to be taxed at 6.25 percent instead of the 1 percent that applies to food and medicine. A more serious change was a 67 percent increase in the flat income tax, from 3 percent to 5 percent, that took place at the start of 2011.

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