January 16th, 2020

Illinois Parking Excise Tax –  (Regulations - 86 Ill. Admin. Code Part 195 / Statutory - 35 ILCS 525/10-1 et seq.)

Effective January 1, 2020, operators of parking areas, spaces, and garages will be required to collect and remit the Parking Excise Tax based on the purchase price paid by the purchaser to park in a parking area, space or garage.  The Parking Excise Tax is imposed at a 9% rate of the purchase price for a parking space paid for on a monthly or annual basis.   "Parking area or garage" is defined as any real estate, building, structure, premises, enclosure or other place, whether enclosed or not, except a public way, within the State:  where motor vehicles, recreational vehicles, or other self-propelled vehicles, are stored, housed or parked for hire, charge, fee or other valuable consideration in a condition ready for use…