Skip to content

Illinois Sales-Tax Collection Declines

Illinois Sales-Tax Collection Declines

July 10, 2024 Last Edit: June 5, 2025

Illinois Sales-Tax Collection Declines

The Illinois Commission on Government Forecasting and Accountability (CGFA) reported Illinois sales-tax collection declined 4.5% year-over-year in the month of June. The report’s indication of a consumer pull back reinforces data from NFIB’s monthly Small Business Economic Trends Survey (SBET). In the June SBET, more small-business respondents reported declining sales than reported increasing sales. (A net negative 12% reported higher sales.) Even more jarring, a net negative 29% of small-business owners reported higher earnings over the past six months. “Consumers walloped by inflation appear to be cutting expenditures,” said Noah Finley, Illinois NFIB State Director. “This pull back—if it continues—could significantly impact Main Street businesses, especially as small businesses continue to face regulatory headwinds at both the state and federal level.” Other state tax revenues for June were mixed. Personal income tax revenues climbed 16.3% while net corporate income taxes declined 11.0% year over year.
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

Illinois state capitol IL springfield photo by Todd Pack
July 9, 2025
Illinois FY25 Revenues Exceeded FY24 Revenues
Despite rising tax revenues, Illinois lawmakers continue to raise taxes to…
Read More
July 7, 2025
New Op-Ed Highlights Challenge of Political Stalemate for PA Sm…
NFIB’s Greg Moreland wrote about why small businesses need tax reform act…
Read More
July 4, 2025
America’s Small Businesses Applaud President Trump, Congress…
“President Trump and Congress have the gratitude of 33 million American s…
Read More
United States Capitol Building Wide Shot
July 3, 2025
NFIB Thanks Congress for Passing Landmark Small Business Tax Re…
NFIB applauds Congress for passing the One Big Beautiful Bill Act, which in…
Read More

© 2001 - 2025 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility