Choices for Illinois Taxpayers in Implementing the 2017 Income Tax Rate Increase
Last year, Illinois enacted a mid-year income tax rate increase. Effective July 1, 2017, Illinois increased the income tax rate for individuals, trusts and estates from 3.75 percent to 4.95 percent,...
View ArticleIllinois Responds to Federal Tax Reform Bill by Proposing Legislation to...
The 2017 federal tax reform bill, known as the Tax Cuts and Jobs Act (Act), made a number of significant changes to the law, particularly to the international tax provisions of the Internal Revenue...
View ArticleUpdate on State Responses to Federal Tax Reform: Illinois and Oregon
States are moving to advance different solutions in their efforts to address federal tax reform. Illinois recently introduced legislation to addback the new deduction for foreign-derived intangible...
View ArticleIllinois Confirms Treatment of Deemed Repatriated Foreign Earnings Provisions
On Wednesday, the Illinois Department of Revenue (Department) issued additional guidance concerning its treatment of the new deemed repatriated foreign earnings provisions found in Internal Revenue...
View ArticleCircuit Court of Cook County Upholds City of Chicago’s Imposition of...
On May 24, 2018, the Circuit Court of Cook County granted the City of Chicago’s Motion for Summary Judgment in the case captioned Labell v. City of Chicago, No. 15 CH 13399 (Ruling), affirming the...
View ArticleIllinois Budget Bill Makes Few Tax Changes except the Adoption of an Economic...
On June 4, Illinois Governor Bruce Rauner signed into law the state’s fiscal year (FY) 2019 budget implementation bill, Public Act 100-0587 (the Act). The Act makes a significant change to the Illinois...
View ArticleIllinois Department of Revenue Issues Post-Wayfair Guidance Implementing...
In June 2018, just before the US Supreme Court ruling in Wayfair, Illinois enacted an economic nexus standard modeled after South Dakota’s law (see our prior coverage). The new Illinois standard takes...
View ArticleIllinois Department of Revenue to Waive Penalty for Late Filing of Business...
The Illinois Department of Revenue (Department) announced that it will grant abatement of late filing penalties for taxpayers that file their Illinois business income tax returns on or before November...
View ArticleIllinois Fiscal Year 2020 Income and Franchise Tax Changes
The Illinois General Assembly enacted a number of new tax measures in a flurry of activity at the end of its legislative session. Some of the changes are taxpayer friendly and others are not. Unlike...
View ArticleIllinois Amnesty Programs Now Underway
As previously announced, the Illinois Department of Revenue has begun a new amnesty program, running October 1 through November 15, 2019. All taxes paid to the Illinois Department of Revenue for...
View ArticleWashington Appellate Court Rejects Department’s B&O Tax Apportionment Method
In a recently issued taxpayer-favorable opinion, the Washington Appellate Court rejected the apportionment methodology used by the Department of Revenue, which sourced service receipts to the location...
View ArticleWashington Department of Revenue Announces LendingTree Decision Does Not...
The Washington State Department of Revenue (the “Department”) recently announced its interpretation of the Washington Court of Appeals’ March 30, 2020, adverse ruling in LendingTree, LLC v. Dep’t of...
View Article
