Illinois gas tax to blame for high prices
From Sunshine Review
30 April 2008 With consumers scrambling to pay for tanks of gas to get to work, it was time to bring transparency to how gas taxes are levied in Illinois.
According to the Tax Foundation, with the exceptions of 1980, 1981, and 1982 the government has been collecting more money from taxing gas than the oil companies have been making in profits. This brings in roughly $58.4 billion in taxes for the government.[1]
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Illinois in top 10 taxed states
Illinois is ranked as one of the top 10 highest taxing states on gasoline, paying 54.6 cents on every gallon.[2]
Breakdown of the taxes
| Tax | Total |
|---|---|
| Federal | Flat 18.4 cents |
| State | Flat 18.4 cents |
| State | 6.025 percent sales tax |
| State | 3 percent underground storage tax |
| County | County taxes are included as well |
Transparency in Illinois
Other government tax receipts are more transparent. For instance, the Wal-Mart sales receipt breaks out the sales tax. Only the gas receipt has no delineation of the taxes paid.
External links
References
- ↑ Tax Foundation, State and Federal Treasuries "Profit" More from Gasoline Sales than U.S. Oil Industry, October 2005
- ↑ For the Good of Illinois, TRANSPARENCY AT THE PUMP- NOW!, April 30, 2008
