Cook County Reduces Sales Tax Rate by 0.50% on July 1

On July 1, 2010, the Cook County sales tax decreased by one half of one percent. In Chicago, the new rate is 9.75%. The sales tax decrease applies to all Cook County municipalities. Please reference your municipality's current sales tax rate to determine your new sales tax rate effective July 1, 2010. Please click here for a copy of the Illinois Department of Revenue's Informational Bulletin.

The Cook County Board last December overrode President Stroger's veto of the vote to roll back the County's sales tax rate from 1.75% to 1.25%. The Chamber was a leading proponent of the effort to repeal the sales tax increase. The rate reduction will save taxpayers approximately $30 million in FY 2010 and $190-$200 million in FY 2011.

The Chamber is encouraged by the Board's action to reduce the sales tax, but we will continue to urge them to repeal the rest of the full 1-percent increase soon.

 

Click Here to See the Entire Newsletter