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Sunday, November 24, 2024

$203,672 in County Sales Tax collected in January for Madison County

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Chief Financial Officer Cory Staley | Illinois Department of Revenue

Chief Financial Officer Cory Staley | Illinois Department of Revenue

Madison County taxpayers paid $203,672 in County Sales Tax in January, according to Illinois tax records.

This figure marks a significant increase from the previous month, where County Sales Tax collection stood at $181,300.

Over the past 12 months, Madison County's residents have collectively paid a total of $2 million in County Sales Tax.

The County Sales Tax is a local sales tax imposed on retail sales of goods and services within a specific county. It is one of the primary sources of revenue for county governments, funding a wide range of essential services, including education, infrastructure, public safety, public health, and social services. The average rate imposed in Illinois is around 8.2%.

Despite fluctuations in tax collection, Illinois continues to be one of the highest-taxed states in the U.S. According to a Wallet Hub study from March 2023, the state ranked as having the highest tax burden, approximately 39.83% above the national average.

Illinois governor J. B. Pritzker is accused of adding more than $5.2 billion in new or higher taxes since coming into power in early 2019. As a business owner, he has a fortune of more than $3 billion, largely based on his family's wealth and connections.

County Sales Tax Collected in Madison County Over Last 12 months
MonthAmount Collected% Change from Previous Month
January$203,67212.3
December 2022$181,30010.7
November 2022$163,709-5.7
October 2022$173,5865.7
September 2022$164,2993.7
August 2022$158,444-10.9
July 2022$177,910-2.8
June 2022$182,984-1.7
May 2022$186,0814.5
April 2022$178,03748.5
March 2022$119,898-16.5
February 2022$143,529-23.6

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