Illinois court finds mortgage assignments not subject to Chicago Transfer Tax

Illinois court finds mortgage assignments not subject to Chicago Transfer Tax

The Appellate Court of Illinois, First District, recently concluded that the City of Chicago’s real property transfer tax did not extend to assignments of mortgages because, contrary to the City’s arguments, mortgage assignments are not beneficial or controlling interests in property.  The Court’s decision …

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Seller Beware: Collecting Sales Tax When Coupons Are Involved Is Not So Cut and Dried

Seller Beware: Collecting Sales Tax When Coupons Are Involved Is Not So Cut and Dried

The information in this blog is for general informational and educational purposes only, including any information provided by guest bloggers.  Postings are not solicitations or legal advice.  This information is not intended to create and receipt of it does not constitute an attorney-client relationship.  The …

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Illinois court holds that tax deed was not void for lack of proper notice

Illinois court holds that tax deed was not void for lack of proper notice

Excalibur Energy (“Excalibur”) attempted to void a tax deed for certain property for which the defendant, Marilyn Rochman, also claimed ownership. To achieve this end, Excalibur filed a new action in circuit court for ejectment claiming that because the tax deed did not include a legal description of the …

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Is a Professional Licensing Fee a Tax in Illinois? We’ll Need a Taxpayer with Standing to Find Out.

Is a Professional Licensing Fee a Tax in Illinois? We’ll Need a Taxpayer with Standing to Find Out.

In Illinois Association of Realtors v. Stermer, et al. (Feb. 7, 2014), a trade association representing 40,000 Illinois real estate professionals challenged the state’s transfer of monies from the Real Estate License Administrative Fund into the state’s general revenue fund.  The statute authorizing the …

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Boat Purchase Exclusion from Illinois Use Tax Anchored on Temporary Storage Exemption

Boat Purchase Exclusion from Illinois Use Tax Anchored on Temporary Storage Exemption

An Illinois resident taxpayer purchased a boat from an individual who lives in Kentucky in 2011.  The taxpayer completed the Aircraft/Watercraft Use Tax Transaction Report (IL Form RUT-75) and filed it with the Department of Revenue, claiming that the boat was exempt from watercraft use tax.  But the Department …

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Illinois Plaintiffs fail to assert recognizable violation of constitutional rights in challenging school district’s support for property tax referendum, 1983 claim dismissed

Illinois Plaintiffs fail to assert recognizable violation of constitutional rights in challenging school district’s support for property tax referendum, 1983 claim dismissed

In Peraica v. Riverside-Brookfield High School District No. 208 (Oct. 31, 2013), Plaintiffs alleged that the school district improperly advocated for voter approval of a referendum to increase its property tax limiting rate.  Plaintiffs’ claim was dismissed by the circuit court.  On appeal to the Illinois …

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