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Kane County Reporter

Saturday, April 27, 2024

Illinois Named Least Tax Friendly State by Personal Finance Site

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State Representative Dan Ugaste (IL) | Representative Dan Ugaste (R) 65th District

State Representative Dan Ugaste (IL) | Representative Dan Ugaste (R) 65th District

Illinois has been named the least tax-friendly state in the country, according to a recent study. The state's ranking at the bottom is attributed to its ever-growing tax burdens, as highlighted by an unknown source who stated, "Illinois ranks dead last in yet another study of tax-friendliness because of our ever-growing tax burdens. It’s time to get our state out of last place and finally provide relief to our residents."

The news comes as Americans are reportedly moving to the most tax-friendly states in the country, seeking relief from high tax rates. The shift in population towards states with more favorable tax policies underscores the impact of taxation on individuals' decisions regarding residency.

As Illinois faces the challenge of being labeled the least tax-friendly state, there may be growing pressure on policymakers to address the tax burden on residents. The need for measures to improve the state's tax-friendliness could become a focal point in discussions surrounding economic development and attracting and retaining residents.

The study's findings serve as a reminder of the importance of tax policies in shaping the overall attractiveness of states for individuals and businesses alike. Illinois's ranking as the least tax-friendly state highlights the significance of addressing tax burdens to enhance the state's competitiveness and quality of life for its residents.

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