- The Illinois General Assembly passed a budget bill introducing new taxes and fees effective January 1, 2027, including a 10% tax on targeted advertising services, a monthly social media platform fee for platforms with over 100,000 Illinois users, and a 0.2% privilege tax on digital asset business activity.
- Additional changes effective July 1, 2026, include marketplace facilitator obligations for hotel booking platforms, a 15% privilege tax on fantasy contest receipts, consolidation of tire fees, and a temporary suspension of the motor fuel excise tax inflation adjustment.
- The legislation, currently awaiting Governor Pritzker’s review, will impose new tax, fee, sourcing, registration, reporting, and systems requirements for businesses involved in digital advertising, social media, and digital asset transactions, potentially facing similar legal scrutiny as comparable measures in other jurisdictions.
Source PwC
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