Teri Grahn, CMI
Balancing Pre-LOI and Post-LOI Diligence in ETA: Strategy, Tradeoffs, and Winning the Auction
Entrepreneurship through acquisition (ETA) offers an increasingly popular path to business ownership. For many, it’s an appealing alternative to...
Editor's note: This piece was originally published in 2020 and has been updated to reference new changes in Illinois state law.
Illinois has passed bill SB 3362, amending the Leveling the Playing Field for Illinois Retail Act and now requiring remote sellers to collect sales and use taxes based on destination rates.
Under the existing law, enacted on January 1, 2021, remote sellers with some sort of physical presence in the state were only required to collect tax at 6.25% and were not required to collect any applicable local taxes.
Effective January 1, 2025, remote sellers, with some sort of physical presence, will need to collect state and local sales tax based on the sales destination rate. In-state retailers will still collect sales tax based on the rate that the sale originated from.
If you have any questions, contact Teri Grahn at 651-407-5889 or tgrahn@redpathcpas.com.
IRS Sets 2026 Business Mileage Rate at 72.5 Cents
Redpath and Company: December 30, 2025
If your business reimburses mileage or deducts vehicle expenses, the IRS just made a change you’ll want to account for before year-end planning.
Understanding GASB Statement 102: Identifying and Disclosing Risks
GASB Statement 102 introduces new financial reporting requirements designed to increase transparency and strengthen how governments communicate risk....