On Friday, December 19, the City Council passed a budget which includes a new Social Media Amusement Tax (SMAT) and increases several existing taxes. If enacted, the SMAT would be a first of its kind tax (in the US) imposed exclusively on social media companies. The SMAT revenue is earmarked to fund Chicago’s mental and
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Chicago Weighs In on Wayfair Nexus, Permits Limited Safe Harbor
By Breen Schiller & Charles Capouet on
Posted in In the News, Noteworthy Cases
In response to numerous inquiries, the Chicago Departments of Finance and Law issued an Information Bulletin on their application of nexus to Chicago taxes in light of Wayfair v. South Dakota, 585 U.S. __, 138 S. Ct. 2080 (2018). Illinois has adopted an economic nexus standard by which out-of-state retailers making sales of tangible…