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Is there other general information I should know about Home Rule Sales Tax?

Answer #205 -- ( Published 08/10/2005 09:15 AM | Updated 07/12/2017 11:45 AM )

Is there other general information I should know about Home Rule Sales Tax?

Is there other general information I should know about Home Rule Sales Tax? Interest is paid on home rule sales taxes. Collections are deposited into the home rule fund, and the money is promptly invested by the Office of the State Treasurer. Interest income earned during each month is reported to us for monthly distribution. This interest amount will be included in the check issued. Home rule sales tax will be disbursed separate from other taxes administered by the Illinois Department of Revenue. You will receive your municipal home rule sales tax disbursement in the same way that you have chosen to receive your municipal sales tax disbursement. Taxpayers are allowed to take a 1.75 percent discount for timely filing and payment of these taxes. Any allowable discount that is taken is reflected in the local government distributions.

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