Article by: Maria Koklanaris
Read the full article published by Law360 on 9/4/18 for its subscribers.
Chicago Mayor Rahm Emanuel who recently announced he will not be seeking a third term leaves behind a complicated legacy of tax changes. The business community is unhappy about two extensive changes: Amusement Tax Ruling No. 5 and Personal Property Lease Transaction Tax Ruling No. 12.
"The changes that the Department of Finance has made under his tenure are extensive," says Breen Schiller. "The departments has reinterpreted and expanded the way those taxes were intended and originally written, in order to tax the new economy."