The Illinois Lesson: Revenue Gimmicks, Reneged Promises, Undermine the Goodwill Necessary for Functioning Tax System

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

States desperate to increase revenues by denying refunds, imposing unfair penalties, or otherwise refusing to honor credits or incentives already promised are generating funds at the cost of the public trust, according to author Michael J. Wynne, who argues that such tactics can only backfire in the long run.

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