Illinois Provision Defining the Taxable Components Falling into the Escalation Definition of Taxes

State:
Multi-State
Control #:
US-OL7102
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Description

This office lease provision states that the definitions of terms for taxes on buildings and atriums and the land on which such buildings are located including all sidewalks, plazas, streets and land adjoining to such buildings, and all replacements thereof, and constituting a part of the same tax lot or lots.

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FAQ

Illinois has two tax rates. The rate for general merchandise is 6.25% (high rate). The preferential rate for qualifying food, drugs, and medical appliances is 1% (low rate). There are numerous locally imposed retailers' occupation taxes on general merchandise administered by IDOR.

Illinois levies a 6.25% state sales tax on the retail sale, lease or rental of most goods and some services. Local jurisdictions impose additional sales taxes ranging between 0% and 4.75%. The range of total sales tax rates within the state fluctuates between 6.25% and 11%.

This is the total of state, county and city sales tax rates. The Illinois sales tax rate is currently 6.25%. The County sales tax rate is 1.75%. The Chicago sales tax rate is 1.25%.

The list of services for this sales tax in Illinois includes: Laundry. Personal care services such as massage, tattooing, tanning, and manicuring. Landscaping. Storage. Repair and maintenance of the tangible personal property. Pest control services. Lastly, cable television, broadcast satellite service, and video and audio.

The Illinois (IL) state sales tax rate is currently 6.25%. Depending on local municipalities, the total tax rate can be as high as 11%.

A construction contractor does not need to collect sales tax when incorporating tangible personal property into real estate under a construction contract. In this scenario, Illinois law considers the construction contractor the end user of the items permanently incorporated into real estate.

Although Illinois has an SOT in name, it doesn't actually tax services. Instead, it taxes tangible personal property transferred as the result of a sale of service. In fact, the only services Illinois currently taxes (through other tax acts) are telecommunications, hotels and car rentals, among others.

Information for exclusively charitable, religious, or educational organizations; governmental bodies; and certain other tax-exempt organizations. Qualified organizations, as determined by the Illinois Department of Revenue (IDOR), are exempt from paying sales taxes in Illinois.

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Illinois Provision Defining the Taxable Components Falling into the Escalation Definition of Taxes