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Completely Compliance: Chicago, Illinois Update

by DMA Staff | Mar 21, 2016
Completely Compliance Chicago, IL

 The changes to the Chicago Personal Property Lease Transaction Tax, which were to be effective September 1, 2015, have been postponed until January 1, 2016 in order to allow businesses to implement new processes to accommodate the tax expansion. Earlier in the year, the Comptroller signed Ruling #12 which included computer fees for obtaining information from a provider’s computer. REFERENCE 

In addition to this, in October 2015, the Council enacted further amendments which will affect the ordinance. The following amendments are effective January 1, 2016:

  1. Small New Business exemption
  2. A lower rate of 5.25% instead of 9.00% for certain cloud computing products
  3. A voluntary disclosure offer with varying options for waiver of penalty, interest and tax depending upon qualified exemptions

More detailed information can be found in the Informational Bulletin located here.

Please do not hesitate to contact your local DMA office should you have specific questions or requests.

Completely Compliance is a quarterly e-newsletter exclusively for clients and employees of DMA. It is intended to provide relevant sales/ use tax news, events, and information. As such, this e-newsletter should be used for general informational purposes only, and not as a substitute for consultation with professional tax, legal, or other competent advisers. Before making any decision or taking any action based upon information contained in this e-newsletter, you should consult with a DMA professional.