Lawmakers move to boost online sales tax compliance
Lawmakers move to boost online sales tax compliance
Lawmakers passed a legislative fix during the recently adjourned fall veto session which proponents say could help the state realize $380 million in annual tax revenue. Supporters say the new law will ensure the state’s full 6.25 percent 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.
32,000 Illinoisans save $8.5 million in first year of new program
Illinois Treasurer Michael Frerichs on Monday continued to promote a new state program which he says is a first step to alleviating a nationwide “retirement crisis.” Frerichs said more than 32,000 Illinoisans have saved more than $8.5 million for their retirement as part of Illinois Secure Choice, a program which has been implemented in the past year after it was created by...