Illinois ranks 48th in the nation in “Economic Outlook” according to the latest edition of “Rich States, Poor States,” an annual analysis of the relative economic outlook of the states, published by the American Legislative Exchange Council.
That’s the same ranking Illinois received the past two years. It’s based on 15 variables, including business tax rates, legal climate, workers’ compensation costs, debt service payments and sales and property tax burden.
The state’s high marginal business income tax rate of 9.5% was ranked 44th in the nation. Its 11.1% debt service as a share of tax revenue ranked it 43rd in that category. A $2.83 per $100 of payroll cost for workers’ compensation ranked 47th.
Illinois did receive a relatively high score for its low percentage of public employees per 10,000 people, ranking 11th in that category. It also ranked 11th for its sales tax burden of $16.36 per $1,000 of income.