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Illinois kicks off 2025 with important tax changes

01.06.2025 | Duration: 21:00

Significant tax changes for 2025 for the state of Illinois and the city of Chicago including lease transactions, retail sourcing rules, and new direct pay permit obligations.

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Podcast Overview

We begin our 2025 TWIST Podcast series with Drew Olson, our State Tax Resource Network specialist for Illinois and Chicago, to discuss several noteworthy tax changes for the State of Illinois and the City of Chicago, many of which are effective on January 1, 2025. At the state level, we will discuss changes in the tax structure for lease transactions, new sourcing rules for certain retail transactions, and new obligations for direct pay permit holders. We will also discuss several tax rate changes taking effect on January 1 that were passed as part of the 2026 Chicago City Budget.

Meet our podcast team

Image of Harley T Duncan
Harley T Duncan
Consultant to KPMG
Read bio
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Harley T Duncan

Consultant to KPMG

Harley Duncan is a consultant to the KPMG State and Local Tax practice. He joined KPMG in 2008 and served as leader of the Washington National Tax State and Local Tax Group through 2021. Harley spent the previous 20 years as Executive Director of the Federation of Tax Administrators and has worked with Kansas and South Dakota state governments. He focuses on sales, use and excise taxes as well as matters of state tax policy and tax administration and assists KPMG with the weekly This Week in State Tax (TWIST) publication and podcast series.
Image of Andrew K. Olson
Andrew K. Olson
Managing Director, Tax, KPMG LLP
Image of Harley T Duncan
Harley T Duncan
Consultant to KPMG
Read bio
Image of Harley T Duncan

Harley T Duncan

Consultant to KPMG

Harley Duncan is a consultant to the KPMG State and Local Tax practice. He joined KPMG in 2008 and served as leader of the Washington National Tax State and Local Tax Group through 2021. Harley spent the previous 20 years as Executive Director of the Federation of Tax Administrators and has worked with Kansas and South Dakota state governments. He focuses on sales, use and excise taxes as well as matters of state tax policy and tax administration and assists KPMG with the weekly This Week in State Tax (TWIST) publication and podcast series.
Image of Andrew K. Olson
Andrew K. Olson
Managing Director, Tax, KPMG LLP

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This Week in State Tax

This Week in State Tax (TWIST) is a series providing the latest updates on the ever-changing state and local tax environment.

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