Illinois Appellate Court Says Chicago Lease Tax is Neither a Local Sales Tax Nor an Ad Valorem Tax

In a vehicle lease agreement dispute between two private parties involving the responsibility of the lessor to pay certain underlying “ad valorem” and “local sales” taxes due, an Illinois Appellate Court held that the City of Chicago’s Personal Property Lease Transaction Tax (“Lease Tax”) is neither an ad valorem tax nor a local sales tax.

Source Deloitte

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