TAXES ON MOTOR FUEL
Benjamin L. Varner, Chief Economist

This summary examines the taxes levied on motor fuel in Illinois and some of the changes Senate Bill 2111 would introduce, including the rerouting of sales tax revenues on motor fuels to the State’s public transportation funds.

STRONG GAINS IN NOVEMBER DRIVEN BY INCOME TAXES, TRANSFERS, AND ESTATE TAX
Eric Noggle, Revenue Manager

It was a very good month for revenues deposited into the State’s General Funds in November. Significant growth from income tax receipts, transfers, and the Estate Tax easily offset a weak month for Sales Taxes and Federal Sources. In total, revenues reached $3.750 billion, which is $476 million or 14.5% above the amount collected last November. This brings cumulative growth for Illinois’ General Funds through the first five months of the fiscal year to $951 million, or +4.9%.