Illinois’ New Tax For Online Purchases Has Already Begun
As hinted to on Q985online.com last week, the new online sales tax (a.k.a. "use tax") has officially begun in Illinois and now we know what it'll cost shoppers.
If you didn't do your online shopping this weekend get ready for a 6.25% increase because it's officially been implemented today, October 1, 2018. The increase is predicted to bring more than $140 million in revenue to Illinois.
As a result of the decision, and a change in Illinois law passed with this year’s budget bill, most out-of-state retailers who sell to Illinois customers will be required to collect and remit a “use tax” of 6.25 percent on all online transactions starting Oct. 1.
It's not a huge additional cost for consumers but if you spend a few hundred dollars and add a shipping charge, plus the new online sales tax, the cost of your purchases will have a noticeable increase. And, if you're wondering what Illinois plans on doing with the money, stop reading now.
According to illinoispolicy,com,
Unfortunately, the Illinois General Assembly has already planned to spend this money rather than using it to pay down debt or repeal other harmful taxes.