Illinois has passed a sweeping set of new tax measures as part of its fiscal year 2027 budget — and several of them break new ground at the state level. In this episode of This Week in State Tax, host Harley Duncan is joined by Drew Olson to walk through the key provisions. Topics include a new targeted advertising services tax aimed at advertisers using personal data to tailor ads, a social media platform fee, a digital asset transaction tax on brokers with over $100,000 in gross receipts, and significant expansions of the sports wagering tax to cover prediction markets and fantasy contest platforms. Also discussed are the effective dates — some of which give taxpayers very little time to prepare — potential legal challenges under the Internet Tax Freedom Act, and a late-breaking executive order by Governor Pritzker pausing data center tax benefits for new applicants.
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