Gov. Rod Blagojevich is proposing several important tax changes. Here's a look at the details, as described by the governor's office:

GROSS RECEIPTS

• A tax on nearly all types of business transactions.

• Manufacturers, wholesalers and retailers would pay 0.05 percent ($5,000 for every $1 million in revenue). Other types of business would pay 1.8 percent.

• Companies with less than $1 million in revenues would be exempt. That covers 75 percent of all Illinois businesses.

• Proceeds, estimated at $6 billion a year, would fund general state services, including education and health care.

PAYROLL

• A 3 percent tax on the payrolls of certain businesses.

• Applies to businesses that do not offer health insurance to workers, or spend very little on the insurance.

• Businesses with fewer than 10 workers would be exempt.

• Proceeds, estimated at $1 billion, would help provide health coverage for the uninsured.

CORPORATE INCOME

• Would be phased out and replaced with the gross receipts tax.