The Chicago Bears are off this week, last weekend it was pretty sad that they lost, but as I was out and about last Sunday after the game, I realized the Bears have the best fans. Everyone will still in Bears attire, even though they lost, people put on their Bears stuff and gear up for the game, it is really an event people look forward to, many people arrange thier schedules around Bear games.

On Senate Bill 1429, supposedly this will help the State collect more sales revenue, but at what other problems will it create? How will the ST (State Tax forms, filled out monthly) change? Will this give tax incentives for businesses who want to come in to an area? What will be the incentives? Will areas want big businesses now if they will not reap the sales benefits but the added traffic, police needed, and things that will not be offset by the tax benefits? Will some areas have budget problems now, especially now that they rely on sales tax revenue? What will the accounting nightmares be for, the cities, villages, counties, businesses, and the State? Will this really streamline things for the State? This is also supposed to affect on-line sales and mail order sales, so you will be taxed on these purchases, always.



Senate bill 1429 Senate Bill 1429, which would shift the state’s method of issuing sales tax revenue from a “point of sales” to “destination” source.

Under S.B. 1429, the money would go to the municipality in which the product was delivered. So S.B. 1429 would have little impact on bedroom communities, where mom-and-pop retailers and coffee shops reign. But in towns like Elmhurst, which is home to some massive distributors like McMaster-Carr Supply Co., it could spell the loss of millions of dollars every year.

The idea behind S.B. 1429 is to allow Illinois to join the Streamlined Sales Tax Project, a national endeavor to create a simpler and more fair sales and use tax system. One of the program’s biggest draws is its aim to level the playing field between brick-and-mortar businesses, which pay sales tax, and the Internet and catalogue companies, which do not.

So far, 21 states have signed up for the program. If 30 states join, there is an understanding that the federal government will enact legislation to allow states to collect tax on online and mail-order transactions, said Dave Bennet, executive director of the Metropolitan Mayors Caucus.

“There are no guarantees, obviously,” said Bennet. “Even if Illinois does change, who knows when that legislation may go into effect.”
A requisite of joining the project is to distribute sales tax according to the destination of the sale.

Bennet is working to make Chicago-area municipal leaders aware of potential local impacts of S.B. 1429. Although state officials plan to create a $20 million mitigation fund to aide municipalities negatively affected by the bill, Bennet said it may not be enough.

“The message we’re receiving is that the mitigation plan being considered is inadequate,” he said. “The way it’s set up, it would be an annual fund and it would increase at CPI level each year. But again, is it enough? I don’t know. One of the problems right now is we can’t really determine that.”

“It helps in that the state will collect tax presently not collected. The mom-and-pop retailer that pay bills and then tries to make a living will be on equal footing,” he said.

Governors wife is an opportunist
Gov. Rod Blagojevich's wife received a commission from a 2005 condo sale involving a man who later won $10 million in no-bid state contracts - again showing how the governor appears to benefit from those seeking state business, according to a published report.
The seller was Mark Wight, who owns an architecture firm that won three new contracts with the state toll highway authority; the buyer was John Wyma, Wight's tollway lobbyist who has worked closely with the governor for years, the Chicago Tribune reported in its Sunday editions.
Patti Blagojevich, who has a home-based real estate business, had been looking for a property for Wyma for months, but he and Wight found each other without her help.
Wight said he decided to pay a commission on the sale of the $650,000 property to Patti Blagojevich anyway after it became clear to him that Wyma had been working with an agent.
"I had always intended to pay a commission to an agent, regardless of who that agent was," Wight said in a written response. "I later learned that John was working with Patti Blagojevich."

6 Comments:

  1. SP Biloxi said...
    Sorry about the Bears. When is your Governor going to pass the budget?
    Third Generation Chicago Native said...
    Budget.......? Now they are kicking the SB 1429 around.

    Bears, last week they lost, this week they are off, so they can rest up for next week and win!
    SP Biloxi said...
    Sounds like G-Rod will stall the budget.
    KittyBowTie1 said...
    Wake me up when Patti gets indicted for that kind of crap.
    SP Biloxi said...
    Isn't her husband under the radar for indictment?
    Anonymous said...
    Has anyone heard anything about the Gov's wife having a large real estate tax reduction business at the cook County Assessors office? I have no idea if this is true but I have heard about it several times now.

Post a Comment



Newer Post Older Post Home

 

Blogger Template by Blogcrowds.