Quantcast

Rockford Sun

Saturday, November 23, 2024

Boone County residents pay $2.3 million in Special County Retailers Occupation Tax in 2022

Webp david harris 2

Director David Harris | Illinois Department of Revenue

Director David Harris | Illinois Department of Revenue

Boone County taxpayers paid $2.3 million in Special County Retailers Occupation Tax in 2022, according to Illinois tax records.

This figure marks a significant increase from the previous year, where Special County Retailers Occupation Tax collection stood at $2 million.

The Special County Retailers Occupation Tax, a crucial revenue stream, is primarily allocated for county governments use.

Despite fluctuations in tax collection, Illinois continues to be one of the highest-taxed states in the U.S. According to a Wallet Hub study from March 2023, the state ranked as having the highest tax burden, approximately 39.83% above the national average.

Illinois governor J. B. Pritzker is accused of adding more than $5.2 billion in new or higher taxes since coming into power in early 2019. As a business owner, he has a fortune of more than $3 billion, largely based on his family's wealth and connections.

Special County Retailers Occupation Tax Collected in Boone County Over Last 4 Years
YearAmount Collected% Change from Previous Year
2022$2,303,72316.9
2021$1,970,87437.4
2020$1,434,6583.9
2019$1,380,184-10.1

MORE NEWS