ARTICLE
3 December 2007

Chicago Adds New Taxes for 2008

DM
Duane Morris LLP

Contributor

Duane Morris LLP, a law firm with more than 800 attorneys in offices across the United States and internationally, is asked by a broad array of clients to provide innovative solutions to today's legal and business challenges.
The City of Chicago has increased a number of its taxes. Of note, effective January 1, 2008, the city is increasing its Liquor tax, expanding its Hotel tax, changing the rate of its Leasing tax, increasing the Telecommunication tax surcharge and adding a new Bottled Water tax.
United States Tax
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The City of Chicago has increased a number of its taxes. Of note, effective January 1, 2008, the city is increasing its Liquor tax, expanding its Hotel tax, changing the rate of its Leasing tax, increasing the Telecommunication tax surcharge and adding a new Bottled Water tax.

The Hotel tax is expanded by taxing resellers of hotel rooms, such as online resellers.

The Leasing tax on personal property (Chicago Transaction tax) is increased from 6% to 8%.

The Telecommunication surcharge is increased from $1.25 a month to $2.50 a month.

The new Bottled Water tax will be 5 cents per bottle (no size of bottle is designated).

If you would like more information on this topic, please contact Stanley R. Kaminski, any other member of the State and Local Tax Practice Group, or the lawyer in the firm with whom you are regularly in contact.

This article is for general information and does not include full legal analysis of the matters presented. It should not be construed or relied upon as legal advice or legal opinion on any specific facts or circumstances. The description of the results of any specific case or transaction contained herein does not mean or suggest that similar results can or could be obtained in any other matter. Each legal matter should be considered to be unique and subject to varying results. The invitation to contact the authors or attorneys in our firm is not a solicitation to provide professional services and should not be construed as a statement as to any availability to perform legal services in any jurisdiction in which such attorney is not permitted to practice.

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