 The report includes year-end tax collection data that illustrates
the additional revenues generated by the income tax rate increases
and by the amnesty program during fiscal 2011, along with the
underlying growth in the economy. The monthly report is designed to
help members of the public and policymakers understand what is
happening with state tax receipts, and why.
The department's team of professional economists works with labor
economists at the Illinois Department of Employment Security to
create models to forecast revenues, based on projected employment
and wage and salary growth, and uses national forecasting services
to provide forecasts for other economic variables.
The Department of Revenue provides annual estimates used to
develop the governor‘s budget and periodically revises those
estimates as economic conditions warrant. The monthly reports are
available at
www.tax.illinois.gov.
[Text from
Illinois
Department of Revenue file received from
the
Illinois Office of
Communication and Information]
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