“It’s not retired snowbirds who are driving the flight from Illinois. Analysis of IRS data shows how millennials are in fact leading the Illinois exodus”

ILLIOIS POLICY
New IRS data: Illinois sees record loss of people, income to other states
by Austin Berg
December 1, 2017

The Land of Lincoln is experiencing heavy losses of people and income to other states, new IRS data reveal. Illinois lost more than 86,000 people and $4.75 billion in adjusted gross income to other states from 2015-2016. Illinois’ problem with wealth flight isn’t just persisting, it’s getting worse. That’s the takeaway from new data released by the Internal Revenue Service on Nov. 30. In terms of both people and income, the Land of Lincoln saw a record-breaking exodus in the 2015 tax year (2015-2016). Illinois saw a net loss of nearly 42,000 tax returns to other states on the year, representing a net loss of more than 86,100 people (measured in exemptions), according to the IRS. That’s an all-time high. READ MORE

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