With the Chicago Mayoral race heating up, so too is talk about the City’s $500M annual Tax Increment Financing (TIF) revenues.  Former Chief of Staff to President Obama, Rham Emanuel recently gave a call to former Alderman and now U.S. Congressman Mike Quigley in regards to Chicago’s TIF districts. Recently, two Cook County Board President candidates,...

by Brian Costin A recent Chicago Reader article highlights confusion among Chicago’s restaurants in regards to the recent Cook County sales tax reduction, and a myriad of different taxing districts within the city. Every retail establishment in Chicago must collect and turn over to the Illinois Department of Revenue a 9.75 percent “retailers’ occupation tax”—or sales tax. This...