Despite the fact that the nation’s relocation rates have dropped because job seekers are having a hard time unloading the old homestead without a tremendous loss on their investment, Illinois was at the top of United Van Lines most recent relocation study.
It seems in 2011, 60.8% of the company’s 11,211 shipments here were customers leaving the state, the highest in the nation. Let’s keep those Chicago Democrats in charge in 2012 – they are doing such a great job with the money from the 67% increase in individual taxes and the corporate tax increase of 45.8%.
The new corporate tax rate increases the total percentage Illinois corporations pay on income, including a separate personal property replacement tax, to 9.5%, one of the highest in the nation.
That makes the corporate income-tax rate in Illinois the third-highest in the country when combined with an assumed 35% federal corporate income tax, following only Pennsylvania and Minnesota.
And just think, the powers that be in Springfield are now considering taxing retirement benefits for the first time – want to join the snowbirds permanently, anyone? I’m sure there is some warmer state in the U.S., with a lot of northern exposure, that would welcome us.