IL Cook County Approves Sales Tax Increase The governing board of Cook County, ILLINOIS narrowly approved a one-cent sales tax increase that will push Chicago’s rate over that of four Alabama cities and Seattle on Jan. 1, making it the highest rate of any major U.S. city, at 10.25 percent (CHICAGO...

Kansas Retirement System Woes Moody’s Investors Service has given $1 billion in pension obligation bonds proposed by KANSAS an Aa3 rating, a notch below the state’s current overall rating. The Wall Street rating company said the bonds would do little to solve the financial problems with...

A lot of taxpayers are going to be waiting longer than usual for their state tax refunds this year. At least 21 states, including Colorado, Georgia, Hawaii, Louisiana, Massachusetts, New Mexico, North Carolina and Wisconsin, say refunds could be delayed by weeks or even months. The reason, according...

CA RECEIVES NEARLY $1B REVENUE WINDFALL IN Q1 CALIFORNIA took in $990 million more in personal income tax revenues in the first three months of the current fiscal year (July 1 to Sept. 30) than projected in June. Sales tax revenues came in slightly below projections but corporate tax revenues were...

Seven states suffer from weak governance, according to a report released last week by credit-rating agency Moody’s Investor Service. What earned those states - Massachusetts, New Hampshire, North Carolina, Ohio, Oregon, Rhode Island and Wisconsin - the less than ringing endorsement from Moody’s...