Chicago area community offers sales tax rebate to businesses

There are many small businesses located throughout the Chicago area. While these businesses provide a variety of goods and services, the basics behind each are the same. The goods or services are offered to consumers in exchange for compensation. Because it can sometimes be difficult for businesses of this size to survive, some communities take steps to implement incentives that are financially advantageous to the businesses.

One Chicago area community that has such an incentive in place is Arlington Heights. Its incentive is in the form of a sales tax rebate program. It is designed to provide a rebate of up to 33 percent of the amount small businesses pay under the Local Municipal Retail Tax. The maximum available is $100,000.

Businesses taking advantage of the program must fit the small business profile. In addition to be committed to working out of a location 5,000 square feet or smaller, it must fit one of the following retail categories:

  • Apparel
  • Apparel and accessories
  • Shoes
  • Furniture
  • Household accessories
  • Electronics and appliances
  • Books

The Arlington Heights' Small Business Retail Tenant Incentive Program was designed to do several things including bring in new businesses, help older businesses to expand and diversify the retail stores in the village. It has been in existence since June of 2011. Despite the time that has passed, according to Arlington Heights' business and development coordinator, so far no one has taken advantage of it.

One small business owner, who recently learned about the program, plans on changing that soon. Whether her clothing and accessory business will succeed in that effort remains to be seen.

Source: Chicago Tribune, "Arlington Heights' small business sales tax rebate program goes unused," Sally Ho, Dec. 13, 2012

No Comments

Leave a comment
Comment Information
Get Help Now

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Map address

2015 West Fullerton Avenue
Chicago, IL 60647

Toll Free: 888-574-7062
Phone: 773-696-1788
Chicago Law Office Map