Illinois Sales Tax Archives — Page 4 of 7

Illinois Sales Tax Uncategorized

Illinois sales tax on lease

Illinois sales tax on lease Illinois 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…

Ansari Law FirmMay 29, 2016

Illinois Sales Tax Uncategorized

Triple Net Lease Contract Review Lawyer

Triple Net Lease Contract Review Lawyer How 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…

Ansari Law FirmMay 29, 2016

Illinois Sales Tax Uncategorized

Illinois Medical Marijuana Sales Tax

Illinois Medical Marijuana Sales Tax Medical 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…

Ansari Law FirmMay 29, 2016

Illinois Sales Tax Uncategorized

Chicago candy sales tax

Chicago candy sales tax For example, candies prepared with flour (like chocolates and ice cream) count as “food,” and are therefore taxed normally. Candy prepared without flour (such as hard candies and suckers) are labeled “candy,” and are therefore taxed an additional 5.25% merchandise rate. A similar rule holds true…

Ansari Law FirmMay 27, 2016

Illinois Sales Tax Uncategorized

Chicago Sales Tax on Meals Audit

Chicago Sales Tax on Meals Audit Chicago has a combined sales tax rate of 10.25%. If you break it down, then, it is 9.5% plus 1.25% additional meal tax. Meals taxes generally apply to purchases of prepared food that are consumed in a restaurant or similar establishment, or taken "to…

Ansari Law FirmMay 27, 2016

Illinois Sales Tax Uncategorized

Illinois sales tax on grocery items

Illinois sales tax on grocery items Although grocery items are tax exempt in most states, this does not apply to you if you live in Illinois. Grocery items are not tax exempt, but they are taxable at a reduced rate of 1%. Candy, soft drinks, alcoholic beverages, and food prepared for…

Ansari Law FirmMay 22, 2016

Illinois Sales Tax Uncategorized

Delivery charges Illinois sales tax on gross receipts

Delivery charges Illinois sales tax on gross receipts Taxation of Transportation and Delivery Charges Operating a small business involves understanding how different taxes apply to you based on the products or services you sell. If you charge your customers sales tax, your income is not affected by passing the amount…

Ansari Law FirmMay 21, 2016

Illinois Sales Tax Uncategorized

Illinois tampon sales tax feminine products

Illinois tampon sales tax feminine products State lawmakers are considering getting rid of a controversial tax on feminine hygeine products. Critics say the so-called tampon taxes are unfair to women. In Illinois, feminine hygiene products are taxed 6.25 percent because the state classifies tampons, pads and menstrual cups as "luxury…

Ansari Law FirmMay 19, 2016

Illinois Sales Tax Uncategorized

Airbnb sales tax in Illinois

Airbnb sales tax in Illinois Airbnb rentals in Illinois will be getting more expensive starting Jan. 15. The home-rental platform will collect and remit on behalf of its hosts the same hotel taxes paid by its hotel counterparts, the company announced today. It's the latest step by Airbnb to put…

Ansari Law FirmMay 19, 2016

Illinois Sales Tax Uncategorized

Filing bankruptcy on sales tax

Filing Bankruptcy on Sales Tax - This is like a girl that you got pregnant when you were bored or on vacation. You will be connected to them forever. You can't discharge the debt, but you can file a Chapter 13 or 11 reorganization to pay it back over time…

Ansari Law FirmMarch 18, 2016

Illinois Sales Tax

Illinois sales tax on lease

Triple Net Lease Contract Review Lawyer

Illinois Medical Marijuana Sales Tax

Chicago candy sales tax

Chicago Sales Tax on Meals Audit

Illinois sales tax on grocery items

Delivery charges Illinois sales tax on gross receipts

Illinois tampon sales tax feminine products

Airbnb sales tax in Illinois

Filing bankruptcy on sales tax

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