Illinois – Lawmakers Move To Boost Online Sales Tax Compliance

Lawmakers passed a legislative fix during the recently adjourned fall veto session that proponents say could help the state realize $380 million in annual tax revenue by increasing compliance with existing online retail transaction tax laws.

Supporters say the new law will ensure the state’s full 6.25% sales tax rate and any locally-imposed taxes will be collected at the point of destination on sales made through online marketplaces or by remote retailers that do a certain amount of business in the state.

That means retail products purchased online and shipped to Illinois addresses will generate the same tax revenue as products purchased locally in stores no matter where they are shipped from.

For The Full Article: JournalStar

by jerry nowicki | capitol news illinois
november 23, 2019