Ward Room
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Illinois Owes Businesses Millions in Back Taxes

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    NEWSLETTERS

    If you own a business, never loan Illinois any money.

    The state owes about 36,000 companies that paid too much in income taxes. That dates back as far as 2008, the Sun-Times reports.

    The grand total of the backlog stands at $850 million, according to Illinois Comptroller Judy Baar Topinka.

    Gov. Quinn suggested to lawmakers the state should borrow money to pay back tax refunds and catch up with other past-due bills. However, the General Assembly appeared cool to the idea. 

    Illinois owes $4.5 billion in overdue bills, $1.2 billion for worker health insurance and $1 billion for bills expected to arrive after the fiscal year ends June 30. 

    Topinka warned Illinois could end 2011 with $8.3 billion in red ink.