Personal Property Lease Transaction Tax Ruling 12
NOTE: In response to numerous requests from providers and customers, the Department is extending the effective date of Lease Tax Ruling #12 from September 1, 2015 to January 1, 2016. The extension will allow businesses additional time to have questions answered and to make any necessary changes to their billing systems or other procedures. The City will use the additional time to complete its consideration of possible ordinance changes designed to address some of the concerns that have been raised by various Chicago businesses about the effect of the lease tax on their operations. Any such changes would require City Council approval and would likely coincide with the new effective date of the ruling. In addition, the Department may issue an information bulletin providing further guidance as to specific questions that have been asked since the publication of Ruling #12.