Illinois charges a 6.25% sales tax for sales within the state. There are many exceptions to sales tax in Illinois, some of the most common exceptions are movie tickets, food purchased at grocery stores, food sold in a student cafeteria, newspapers, some Internet sales, and sales by nonprofit organizations.
The Ohio General Assembly established the CAT in 2005 as part of a series of tax reforms in the FY 06-07 budget (Am. Sub. HB 66). HB 66 phased-in the CAT and simultaneously phased-out the state corporate franchise tax and local tangible personal property tax for most businesses.
The federal government has no equivalent to the franchise tax. The key to determining whether your business is subject to a state's corporate income tax or franchise tax lies in the complicated concept of nexus, which is your legal presence in that state.he federal government imposes a corporate income tax, as do all but a handful of states. Some cities also have income taxes. In most states with a corporate income tax, all corporations pay a single rate, regardless of the size of their taxable income, although that flat rate varies.