Illinois

Illinois the 21st state admitted to the United States of America, is the most populous and demographically diverse Midwestern state and the fifth most populous state in the nation. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and western Illinois, and natural resources like coal, timber, and petroleum in the south, Illinois has a broad economic base. Illinois is an important transportation hub; the Port of Chicago connects the Great Lakes to the Mississippi River via the Illinois River. Illinois is often viewed as a microcosm of the United States; an Associated Press analysis of 21 demographic factors found Illinois the “most average state”, while Peoria has long been a proverbial social and cultural bellwether.
The current dollar gross state product for Illinois was estimated to be US$634 billion in 2008.The state’s 2008 per capita gross state product was estimated to be US$40,006, and the state’s per capita personal income was estimated to be US$41,411 in 2009.Illinois’ state income tax is calculated by multiplying net income by a flat rate, currently 3%.There are two rates for state sales tax: 6.25% for general merchandise and 1% for qualifying food, drugs and medical appliances. The property tax is the largest single tax in Illinois, and is the major source of tax revenue for local government taxing districts. The property tax is a local — not state — tax, imposed by local government taxing districts, which include counties, townships, municipalities, school districts and special taxation districts. The property tax in Illinois is imposed only on real property.  Learn more at Wikipedia

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