Wednesday, May 12, 2004

From Crains:

"Gov. Rod Blagojevich on Wednesday proposed legislation that would force Illinois companies to publicly disclose how much state income tax they pay and the loopholes they use to lower their tax bills.
Such reforms to state tax law would affect virtually all of Illinois publicly traded companies, banks, insurance companies and private firms with more than $100 million in assets. The governor who's proposed 2005 budget includes more than $400 million in new business fees and taxes said the goal of the legislation is to let all Illinois taxpayers know which companies they are subsidizing. "

-- So what is a loophole? Is it my ability to deduct property taxes paid? Deprecation on equipment? The sounds really cute and is really, really stupid. Sort of like the Governor

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