The Illinois Income Tax is based, to a large extent, on the federal income tax code. S corporations are subject to the Personal Property Tax Replacement Income Tax (replacement tax), but do not pay regular Illinois income tax. The regular income tax is paid at the shareholder's level. Generally, income from an S corporation is passed on to the shareholders. The shareholders must include this income in their federal adjusted gross income (for individuals) or taxable income (for other taxpayers). This is the starting point for Illinois income tax purposes and where regular income tax is paid.
Ottumwa (/ÉËtÊmwÉ/ É-TUM-wÉ) is a city in and the county seat of Wapello County, Iowa, United States. The population was 25,023 at the 2010 census. Located in southeastern Iowa, the city is split into northern and southern halves by the Des Moines River.
Tama is a city in Tama County, Iowa, United States. The population was 2,731 at the 2000 census. Tama is located a few miles from the Meskwaki Settlement, Iowa's only significant Native American community. Tama was located on the historic Lincoln Highway and is home to an original Lincoln Highway bridge, listed on the National Register of Historic Places. Tama is named for Taimah, the 19th century Meskwaki leader. Tama is situated two miles south of Toledo, the county seat. The two towns are close enough to have nearly grown together over the years.