Oh I Wish I Was in Dixie Scott P. Richert - FEBRUARY 01, 2011 PRINT PAGE | SEND TO FRIEND The Wall Street Journal, on the other hand, recognized the truth: The 7-percent corporate tax really amounts to 9.5 percent, because Illinois has since 1980 imposed an additional 2.5 percent “personal property replacement tax” on corporations. PLEASE SUBSCRIBE OR LOGIN WITH YOUR SUBSCRIPTION CREDENTIALS TO SEE THE FULL ARTICLE