Chicago Provides Voluntary Disclosure for the Amusement Tax
December 6, 2016
Chicago Provides Voluntary Disclosure for the Amusement Tax

The Amusement Tax requires Chicago businesses that subscribe to and use satellite TV to pay an amusement tax directly to the City of Chicago. This tax is not collected by satellite TV providers; it is incumbent on the business to submit the tax.

Currently the tax, which is 9% of charges paid for satellite TV service, must be paid by the 15th of each month for the previous month if the total tax liability is more than $1,200 per year. If the total tax liability is less than or equal to $1,200 per year, payment may be made once a year by August 15th. Business are required to register for the tax and a tax return is due for the fiscal year July 1st through June 30th by August 15th of each year.

Many businesses were unaware of the Amusement Tax, so the City of Chicago is offering to accept the payment of the Amusement Tax from July 1, 2015 to the date of payment, waiving all interest and penalties and waiving all liability for the periods prior to July 1, 2015 as they apply to the Amusement Tax.

Please contact us if you have any questions.

You might also like

IRS Delays New Reporting Rule for Online Payment Processors

IRS Delays New Reporting Rule for Online Payment Processors

For the second consecutive year, the IRS has postponed implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment apps and online marketplaces such as Venmo and eBay. While the delay should spare...

read more
Five Strategies to Cut Your Company’s 2023 Tax Bill

Five Strategies to Cut Your Company’s 2023 Tax Bill

As another year ends with interest rates and markets in flux, one thing remains certain: Reducing your company’s tax bill can improve your cash flow and your bottom line. Below are five strategies — including some tried-and-true and others particularly timely — that...

read more