Illinois budget woes mean long waits for tax refunds - KMOV.com

Illinois budget woes mean long waits for tax refunds

Posted: Updated:
By KMOV Web Producer By KMOV Web Producer

SPRINGFIELD, Ill. (AP) -- Illinois businesses waiting for long-overdue tax refunds aren't getting any good news from the state capitol.

Illinois owes about $850 million billion to roughly 36,000 businesses that overpaid their income taxes. Some have been waiting since 2008 to get their money.

Gov. Pat Quinn proposed borrowing money to pay the refunds, but legislators have shown little interest in that idea.

Budget proposals being considered by Democratic lawmakers would do little to chip away at the backlog.

Some companies are waiting not only for refunds but for payment on work they did for the state. The backlog to vendors and social service providers stands at about $4.5 billion.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Powered by Frankly