State Short $153M In Online Sales Tax Revenue
Illinois is missing out on $153 million in sales tax revenue on online purchases,a new report estimates.
The state Department of Revenue says the lost tax income for the current fiscal year is significantly below the up to $800 million estimated in previous studies for the state facing a projected $9 billion budget hole.
Illinois law requires online companies with presence including brick-and-mortar stores in the state to remit taxes for products delivered to Illinoisans.
The department estimates it already gets taxes from 68 percent of the sales made by the 100 biggest online merchants.
Illinois revenue officials are monitoring collection efforts in other states.