Posted by Staff Writer on 8/9/2017 to Federal and State Taxes
IncSmart Illinois (Small Business and Startups) - Illinois county rolls out it's new soda tax. The penny per ounce tax on sugared beverages went into affect August 1. The tax applies to bottled sweetened beverages which includes soda, sports drinks, energy drinks, flavored water, and pre made sweetened coffee and tea with less than 50% milk content. The tax makes soft drinks sold in Chicago among the most expensive in the country, joining the cities of Philadelphia and San Francisco.
There are problems however with the new tax. The US Department of Agriculture has advised Cook County that the tax violates federal law. Portions are illegal. The Cook County soda tax may cost Illinois $87 million in funding for food stamps (SNAP). After the kinks are worked out through the courts, Cook County is hoping to receive $200 million annually from the tax. They are going to use the revenue from this tax to maintain and improve social services such as healthcare and to launch diabetes awareness.
By IncSmart Staff Writer
Starting a Business in Illinois - Illinois Corporation - Illinois LLC
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Illinois Corporations and Illinois Limited Liability Companies. When you call, email, instant message or live chat with our office, expect personal attention. We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place. #incsmart
How to form Illinois LLC - Link
Think Smart. Think IncSmart.