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Tax returns for 2021 and 2022 show illinois lost 86,693 individuals and $9.9 billion because of outmigration More than 87,000 people moved out of illinois taking with them nearly $10 billion in income, according to the latest internal revenue service data Based on individual tax returns filed in 2021 and 2022, the irs reports about $19.38 billion in adjusted gross income left the state and about $9.58 billion moved in, for a net loss of $9.85 billion.
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For the last six years, the total lost adjusted gross income is more than $47.5 billion. A look at irs data since 2010 shows illinois has accumulated a net loss of more than 1 million residents (taxpayers and their dependents) due to domestic outmigration to other states In that year, illinois lost 87,311 residents, 45,460 income tax filers and $9.84 billion in adjusted gross income ranking 47 out of 50 states and the district of columbia in the study of taxes and interstate migration.
A recent study showed that illinois residents pay 10% of their annual income to state and local taxes
The study found that property taxes counted as the largest portion of residents’ tax. In 2000, illinois suffered a net loss of $2 billion in agi as a result of outmigration, meaning the state lost out on being able to tax $2 billion that year The next year, 2001, illinois lost another $2.3 billion in agi due to outmigration. New data from the internal revenue service shows that in 2022 alone, more than 87,000 illinoisans, faced with some of the highest taxes in the nation, relocated to other states
This exodus saw nearly $10 billion in income leaving illinois, significantly impacting the state’s economic landscape.
