Online Retailers Must Add 6.25% Tax to Illinois Purchases Beginning Monday
One of the advantages of online shopping has always been the ability save a little cash by avoiding the sales tax, but those heady days are coming to an end for Illinois residents.
Beginning Monday, October 1, online retailers are required by law to add a 6.25% sales tax to purchases made by Illinois residents.
It's always been a requirement that Illinois consumers report their online purchases on their tax returns at year's end, and pony up the appropriate taxes owed, but how many of us have actually done that each year? Anyone? Just not me? Wow, that's awkward.
Anyway, starting Monday, any retailer with sales of over $100,000 over 200 transactions per year will have to charge you the sales tax.
I'm not sure how the state plans to police this, but you can bet the big retailers will play along. So, if you have any online shopping to do, get it done this weekend.
I'll still shop online. 6.25% is a small price to pay to avoid traffic, parking, runaway shopping carts, moody sales associates, and have a better selection of stuff.