Employers' Expense Tax (7540)
The Employers' Expense Tax was repealed effective 1-1-2014. Final returns for the 2014 tax year were due 8-15-2014.
|Municipal Code Reference:||3-20|
|CAPS Code Reference:||1002920051901|
|Tax Return Form Code:||Form 7540|
The Employers' Expense Tax applied to businesses that employed 50 or more full-time workers or employees that performed 50% or more of their work service per calendar quarter in the City of Chicago. Employees must earn more than $4,300 in a calendar quarter to be considered taxable.
|Tax Base:||$2.00 per employee per month ($4.00 prior to 7-1-2012)|
|Exemptions, Deductions and Credits:||The Employers’ Expense Tax did not apply to:
|Rulings and Procedures:||
Employers' Expense Tax Ruling 1: Tips as part of Wages