Hoping to create up to 20,000 new jobs by July, 2011, Illinois has passed a new law creating the Illinois Small Business Job Creation Tax Credit, a $2500 withholding tax credit for small businesses that create new positions during the 12 month period beginning July 1, 2010. To be eligible a company must have 50…Details
Chicago is infamous for its sales tax. The rate of 10.75%, which was recently lowered to 9.75% in July, was the highest of any major city in the US and was often used as a reference point for the rest of the nation. Sales taxes in Chicago are known for being complicated. A five dollar…Details
Governor Quinn has signed a bill that instructs the State of Illinois to run a general tax amnesty program this fall. Between October 1 and November 8, 2010, anyone who pays past due taxes to the Illinois Department of Revenue (IDOR) will have all interest and penalties waived. If you don’t pay by November 8,…Details
Welcome to the launch of the Chicago Tax Lawyer Blog, brought to you by the Chicago tax attorneys of Horowitz & Weinstein.