September 30: Illinois Chamber of Commerce Annual meeting. We will be holding our annual meeting at the Palmer House Hilton Chicago from 11:00 - 1:30
October 19-21: First week of the House and Senate fall veto session.
October 26-28: Second week of the House and Senate fall veto session.
June 25, 2021
State and Local Tax
This Week
Illinois General Assembly
The House and Senate are not scheduled to return to Springfield until the veto session. However, if an agreement is reached on energy legislation both chambers will return to Springfield to consider that legislation. Although there is nothing specific of which I am aware at present, it is possible that the House and Senate could also consider other legislation, including tax-related legislation, if they return to Springfield.
Rulemaking
The June 25 edition of the Illinois Register does not contain any proposed or adopted rulemakings by the Department of Commerce and Economic Opportunity or proposed rules by the Department of Revenue.
Today's Illinois Register contains one adopted rulemaking by the Illinois Department of Revenue. The Department described the adopted rule as follows:
"The rulemaking adds a new Section 130.2081, Tax-Free Purchases by Exempt Entities and their Employees and Representatives, and Documenting Sales to Exempt Entities, their Employees and Representatives. It provides rules for tax exempt entities to make tax-exempt purchases of tangible personal property in furtherance of the organizational goals of the tax-exempt entities. The rulemaking also provides rules for employees and representatives of tax exempt entities that wish to make tax-exempt purchases of tangible personal property in furtherance of the organizational goals of the tax-exempt entities using their own funds and paying by cash, personal check, credit card, or debit card.
Court cases
Joliet Township High School District 204 v. Illinois Property Tax Appeal Board. This case is a Rule 23 decision. The appellate court upheld a decision of the Property Tax Appeal board to reduce tax assessments on a nursing home. The court determined that the PTAB's decision was not against the manifest weight of the evidence where the evidence presented by an experienced licensed appraiser showed that the assessed values of the property were too high.
Tax Tribunal
No new decisions were issued by the Tribunal this week.
As of this morning, no new cases have been filed this week.
As of today, only 57 cases have been filed with the Tribunal this year. If this trend continues, 2021 will have the least amount of cases filed since the first year of the Tribunal in 2014.
Publications/Meetings
The Multistate Tax Commission is holding its annual meeting virtually again this year beginning on July 21. The agenda and registration is available at this link.
The Illinois Department of Revenue issued Information Bulletin FY 2021-27 "Foreign Dividend Reporting Changes for Corporate Filers Effective for Tax Years ending on or after June 30, 2021,"
The Chicago Sun Times published an article‘"Senior freeze’ tax program riddled with errors, lax oversight, Sun-Times finds"
Illinois Chamber of Commerce Annual Luncheon & Council Reception
The Illinois Chamber is returning to its traditional Annual Luncheon & Reception format with its September 30th get together at the Palmer House in Chicago. This year’s Keynote Speaker is Holly Sullivan, VP of Worldwide Economic Development, Amazon.
Prior to the luncheon there will be an all Council mix and mingle reception from 10-11:30 am. I am seeking a Tax Institute sponsor for the reception. The sponsorship is $2500. A sponsor receives 2 seats at the luncheon, promotional consideration in our luncheon advertising materials, recognition at the luncheon, and an exhibitor space at the reception.
If you are interested in sponsorship, please contact me at kstaats@ilchamber.org
CPE/CLE
If you need free CPE or CLE and missed the Chicago Tax Club's recent Illinois Legislative Wrap Up that I participated in as a panelist, a recording of the webinar is available free of charge at our online store. Here is the link to the Chicago Tax Club webinar.
We also have other webinars available for purchase at our online store on a variety of topics, including taxation. Here is a link. Please contact Kirsten Constant at kconstant@ilchamber.org for information as to which recordings qualify for credit.
