A new law requires Amazon and other online retailers without a physical presence in Illinois to collect sales tax, the way their brick-and-mortar counterparts do.
The Property Tax Code has been amended to expand the property tax exemption for disabled veterans. The exemption now extends to property assessed up to a value of $100,000.
To comply with the Illinois Supreme Court's ruling in Hartney Fuel Oil Co. v. Hamer, 2013 IL 115130, the Department of Revenue has adopted amendments to the retailers' occupation tax, the use tax, and the service use tax.
In Cook county, if a property is assessed twice for the same year or was assessed prior to its becoming taxable, and if these taxes that were assigned in error were paid at sale or otherwise, or were overpaid by the same or different claimants, then the Cook County Treasurer will refund these taxes to the proper claimant.
In the wake of Pub. Act 98-456, which reinstated the coal exemption retroactive to July 1, 2003, the Department has amended the Part titled "Retailers' Occupation Tax" to allow sales tax exemptions for equipment and materials used in coal mining operations.
The Department of Revenue amended its income tax regulations to provide guidance on the Angel Investment Credit. 86 Ill. Adm. Code 100 (eff. July 9, 2014).
The Department of Revenue ("DOR") updated regulations concerning the Retailers' Occupation Tax in order to comply with the Compassionate Use of Medical Cannabis Pilot Program Act. 86 Ill. Adm Code 130 (eff. July 25, 2014).
From now until August 1, 2024, road districts, consolidated or otherwise, may accumulate no more than 50% of the taxes collected from a subdivision in order to improve nondedicated roads that are in the subdivision from and for which the taxes were collected.
In compliance with amendments to the Automobile Renting Occupation and Use Tax Act, the Department of Revenue adopted an amendment which effectively imposes a vehicle rental tax on vehicles with a gross vehicle weight rating of 8,000 pounds or less. 86 Ill. Adm. Code 180 (eff. June 9, 2014).
You must buy adequate health insurance for dependents under the Affordable Care Act or pay a penalty. But who is a "dependent"? A broader range of people than you might think.
Per amendments to the Use Tax Act, lessors are not subject to the tax imposed by the Use Tax Act for amounts not calculated at the time a vehicular lease is executed. Such amounts may include, but are not limited to, charges for excess wear and tear.
Live adult entertainment facilities, commonly known as striptease clubs, will now be assessed an annual surcharge. 86 Ill. Adm. Code 900 (eff. Mar. 10, 2014).
Many restaurants impose a set gratuity on large groups to make sure servers get their fair share. But a new IRS ruling classifies automatic gratuities as service charges, not tips.
The Property Tax Code has been amended to change the method of assessing the value of PPV leases of certain military facilities for state property tax law purposes.
The Department of Revenue may now refuse to issue a license, registration, or permit if the owner, partner, or, in the case of a limited liability company, a manager or member whose name is on the application is in default for money due under any tax or fee act administered by the Department.
Thanks to ATRA, a married couple with a properly structured estate can pass more than $10 million free of federal estate tax. But beware income and state-estate tax consequences.
On November 21, 2013, the Illinois Supreme Court held that certain Illinois Department of Revenue ("DOR") regulations setting situs for tax liability under retail occupation taxes ("ROTs") where purchase orders are accepted were invalid.
In years past, employers who don't offer medical plans to employees got a tax advantage for reimbursing some of their medical expenses. The IRS has greatly restricted that tax break.
The court's ruling means companies can't set up a remote "sales" office and thereby avoid local taxes - but that the company in this case doesn't owe a $23 million tax bill.
The supreme court invalidated an Illinois law requiring out-of-state retailers to pay Illinois use tax on Internet-based sales, ruling that it was preempted by the federal Internet Tax Freedom Act.
Under Illinois law, income from a trust created by an Illinois resident is taxable even if the trust is not otherwise connected to Illinois. But is the state tax constitutionally infirm?
Think a new law designed to ferret out taxable income parked offshore won't affect any of your clients? You might be unpleasantly surprised, tax experts warn.
The Property Tax Code has been amended to modify the maximum annual reduction for the Senior Citizens Homestead Exemption for the taxable years of 2012 and 2013. 35 ILCS 200/15-170.
Should a busy clubhouse connected to a golf course be treated as "open space" and taxed at a low rate? Proposed legislation would end the judicially-created exemption.