Illinois sales tax on lease
Illinois sales tax on leaseIllinois law has changed so that sales tax applies to the down payment and monthly lease payments. If the down payment is $2,000, the tax on that would be $165. If the monthly payment is $300, the sales tax would be $24.75 each month. The total tax for a 36-month lease would […]
Triple Net Lease Contract Review Lawyer
Triple Net Lease Contract Review LawyerHow do we do a better job at reviewing contracts?We understanding business better than most other lawyers. Our tax back ground helps us in understanding tax implications ranging from out-of-state transactions, property leases, and employee benefits to say a few.Why would this be important?If you are purchasing an existing business, […]
Illinois Medical Marijuana Sales Tax
Illinois Medical Marijuana Sales TaxMedical marijuana will be taxed at the 1% pharmaceutical rate. In addition, there will be a 7% privilege tax imposed on cultivation centers and dispensaries. Revenue generated by the privilege tax will be deposited in the Compassionate Use and Medical Cannabis Fund, to cover the cost of administering and enforcing the […]