(SPRINGFIELD) Officials say that a U.S. Supreme Court ruling that retailers must collect sales taxes from buyers in other states could mean more than $200 million a year to Illinois. The high court yesterday overturned a 1992 ruling that a retailer must have a physical presence in a state to collect tax from buyers in that state and the court found the standard does not fit with the current-day online retailing. The State Revenue Department says this is not a new tax, but simply leveling the taxing field for non-online retailers.
(SPRINGFIELD) The federal government has agreed to match billions of dollars in Medicaid funding for Illinois hospitals around the state. Governor Bruce Rauner said yesterday that Washington approved the state’s Medicaid funding model, known as the hospital assessment program, which requires hospitals to pay a tax to the state that is then matched by the federal government. This generates some $3.5 billion for the state which is then distributed back to the hospitals. Plus the redesigned program also funnels most of the money to hospitals in low-income communities that serve more Medicaid-dependent patients.