Illinois Income Tax, Affect of Governor Quinn's Tax Proposals

Governor Quinn has said that “some” people will see an increase under his proposal. The reality is that many, if not a majority, of middle income and working families will see an increase. Governor Quinn uses the hypothetical family of 4 as his example. However, the average family in Illinois is 2.6 family members, not 4. Moreover, consider the high rate of divorce and the high percentage of children born out of wedlock, with both of these situations falling outside the ‘family of 4”. The numbers don’t lie, so input your own circumstances and see how you would fare under Governor Quinn’s tax proposals.

Instructions: Insert your total income and the number of exemptions you take and click the 'Calculate' button. The form will calculate roughly your new tax. Refer to footnotes below.

Your Total Income 1	$
Number of Exemptions 2

	Current Law	Proposed Law
Adjusted Gross Income 1	$	$
Exemption Deduction 2	$	$
Illinois Taxable Income	$	$
Illinois Tax	$	$
CHANGE 3: $

(1) This is generally "Adjusted Gross Income" from Form 1040, Line 37, Form 1040A, Line 21 or Form 1040EZ, Line 4

(2) Number of exemptions on your federal return; however, it's unclear how the proposals would apply to the current $1,000 Illinois exemption for a taxpayer 65 or older or legally blind.

(3) Does not reflect the benefit, if any, from the federal deduction for state taxes as a) many lower and middle income taxpayers claim the standard deduction and would receive no federal benefit, b) many middle and upper income taxapyers are subject to the alternative minimum tax (AMT) and state taxes are not deductible for AMT purposes (therefore, no federal benefit to that extent) and 3) upper income taxpayers are subject to the "phase out" of itemized deductions and receive a lesser or no federal tax benefit.