Executive Director
Tax Institute

(217) 522-5512 ext. 231

All Key Chamber Legislation

Upcoming Events
 I am always seeking topics for webinars to present to the membership of the Chamber.  Please contact me with your ideas.  I also seek volunteers to present topics of interest to the membership.

November 17:  Illinois General Assembly veto session begins.
June 19, 2020

State and Local Tax  
This Week 

Illinois General Assembly

T he General Assembly  has adjourned until the fall veto session.  

HB 2174 was signed by the Governor.  This bill extends the sunset dates of a number of programs and includes an extension of the sunset date of the prohibition of local governments from imposing new taxes or fees on the generation of electricity.

Illinois Department of Revenue
The Department and the Internal Revenue Service announced that they will be hosting a Joint WebEx presentation on June 24. Topics will include payment due dates and additional resources available during the COVID-19 pandemic.  Registration information is available at the link.

I am advised by IDOR General Counsel Brian Fliflet that IDOR offices will be reopening to the public next week.  Brian advised further that IDOR is gradually bringing back employees to Deparment facilities.

City of Evanston
The City Council of Evanston recently voted by a 6-3 vote to amend its amusement tax to include online streaming services and to increase the amusement tax on venues with capacity over 1500 audience members.  Here is a link to the amended ordinance.

Thanks to Steve Kranz of Tax Institute member law firm  McDermott Will & Emery for alerting me to this action by Evanston.

Internal Revenue Service
The IRS issued Notice 2020-49.  The notice postpones to December 31, 2020, the due dates for making investments, making reinvestments, and expending amounts for construction of real property under § 45D of the Internal Revenue Code (Code), the New Markets Tax Credit Program, due to be performed or expended on or after April 1, 2020, and before December 31, 2020.

The June 19  edition of the Illinois Register did not contain any proposed or adopted rulemakings of the the Illinois Department of Commerce and Economic Opportunity or proposed rules by the Illinois Department of Revenue.

The Illinois Department of Revenue adopted adopted 4 cannabis-related rulemakings:  Cannabis Cultivation Privilege Tax, Cannabis Purchaser Excise Tax, County Cannabis Retailers Occupation Tax, Municipal Cannabis Retailers' Occupation Tax and the Medical Cannabis Cultivation Privilege Tax Law.

Court cases
No new cases this week.

Tax Tribunal 
No new decisions were issued by the Tribunal this week. 

None of the new cases filed this week raise unique issues.

The Council on State Taxation ("COST") issued a report on  Mitigating the Impact of State Tax Law Changes of Company Financial Statements

The Illinois Auditor General issued a  Performance Audit report on the Economic Development For a Growing Economy (EDGE) Tax Credit Program.  The report highlights a number of deficiencies in administration of the program by the Illinois Department of Commerce and Economic Opportunity.

The Governor's Office of Management and Budget issued  Illinois' Federal Coronavirus Response Funds and Anticipated Uses.  

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