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Important Update from Avalara: Chicago Personal Property Tax Increase Effective January 1, 2025

  • 1.  Important Update from Avalara: Chicago Personal Property Tax Increase Effective January 1, 2025

    Posted 12-24-2024 15:22

    We want to inform you about an upcoming change regarding Personal Property Taxes in Chicago, IL, that may impact your billing processes.

    What's Changing?
    Effective January 1, 2025, Chicago's Personal Property Tax (U-Leasing and T-Leasing) will increase from 9% to 11%.

    Action Items for You:

    1. If You've Configured AvaTax Nexus for Personal Property Tax:

      • No action is needed. AvaTax will automatically apply the updated 11% tax rate starting January 1, 2025.

    2. If You Have Not Configured AvaTax Nexus for This Tax:

      • Update your AvaTax Nexus settings to include Chicago's Personal Property Tax (U-Leasing and T-Leasing) to ensure compliance with the new tax rate.

    Risks of Inaction:
    Failing to update your settings could result in tax calculation errors, compliance issues, or delayed billing processes.

    For more details about this tax adjustment, please visit the Avalara Knowledge Center.

    Thank you for your attention to this important update. If you have any questions or need assistance, please reach out to your Avalara or Zuora representative.



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    Melissa McDonald
    Zuora
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