CPA Practice

FEBRUARY 4, 2025

Natalie Manley (D) and Amy Elik (R), who are both CPAs, would amend the Illinois Public Accounting Act to create two additional pathways to CPA licensure in the state and enhance CPA practice privilege mobility. House Bill 2459, introduced on Feb. 3 by state Reps.

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Illinois CPA cpas public accounting 116

CPA Practice

APRIL 3, 2023

The Illinois CPA Society (ICPAS)—one of the largest state CPA societies in the nation—is proud to formally announce its new board of directors for the April 1, 2023, to March 31, 2024, fiscal year. CPA, teaching professor and associate head in the University of Illinois Urbana-Champaign’s Gies College of Business; and Leilani N.

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Illinois CPA cpas financial accounting 110

CPA Practice

JUNE 12, 2023

The Illinois CPA Society (ICPAS)—one of the largest state associations in the nation serving the certified public accountant (CPA) community—has presented Daniel F. In addition, he served multiple terms on the ICPAS Board of Directors, of which he is a former chairperson, and the CPA Endowment Fund of Illinois Board of Directors.

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Illinois CPA Florida income tax 105

CPA Practice

SEPTEMBER 27, 2023

Hundreds of certified public accountants across Illinois participated in the Illinois CPA Society’s 14th annual CPA Day of Service on Sept. We thank our members and their friends, families, and colleagues for coming together across Illinois to serve their communities.”

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Illinois cpas CPA public accounting 114

TaxConnex

MAY 8, 2025

In Illinois, downloaded software is generally taxed but there are five criteria to make it exempt, with factors including contract terms, the ability to resell the services or even whether the agreement was physically or electronically signed. Also, SaaS isnt taxed in Illinois, but it is in Chicago.

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CPA Practice

APRIL 22, 2024

The Illinois CPA Society (ICPAS)—one of the largest state societies serving the certified public accountant (CPA) community—has announced the honorees of its annual Outstanding Leadership Awards program, which celebrates distinguished leaders within the CPA profession through a variety of prestigious awards. Mendoza, Ph.D. Gold Medal Cal B.

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Illinois CPA Indiana audit 116

CPA Practice

JANUARY 9, 2024

The Illinois CPA Society and its charitable partner, the CPA Endowment Fund of Illinois, have announced the 12th and largest group to date to complete its award-winning Mary T. Alfred Dzakpasu Southern Illinois University Carbondale, Ill. Dasjha Eguasa Northern Illinois University DeKalb, Ill. Luis Corral Richard J.

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Illinois Washington CPA cpas 115

TaxConnex

AUGUST 8, 2024

In five major farming states, for instance, these annual thresholds are now $100,000 in sales in Iowa or South Dakota; and, in Illinois, Nebraska and Minnesota, $100,000 in sales or 200 transactions. From this you may assume that all equipment used on the farm qualifies, but again it does not.

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Agriculture Sales Tax South Dakota 264

Going Concern

FEBRUARY 1, 2024

Fresh press release for you straight from the source: Aiming to aid accounting students and increase the pipeline of future certified public accountants (CPAs), the Illinois CPA Society and its charitable partner, the CPA Endowment Fund of Illinois, are now accepting scholarship applications. For more info, go here.

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Illinois CPA cpas public accounting 105

Accounting Today

JULY 5, 2023

The Illinois CPA Society presented wealth strategist Daniel Rahill III with its 2023 Lifetime Achievement Award.

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Illinois CPA Account accountant 105

TaxConnex

MAY 26, 2022

As an example, a distributor/wholesaler in Arkansas sells to a retailer in South Carolina and drop ships to the retailer’s customer in Illinois. The Arkansas distributor/wholesaler has nexus in Illinois and is registered for sales and use tax purposes in Illinois.

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South Dakota Sales South Carolina Illinois 244

TaxConnex

JULY 29, 2021

One such location is Chicago, Illinois. If all of these specific taxes aren’t enough Chicago has been enforcing their own economic nexus threshold (separate from the economic nexus threshold of Illinois). Sales tax is complex for any business selling into multiple states.

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Sales Tax Illinois audit 246

Patriot Software

JULY 28, 2022

Seeing this looming crisis, Illinois launched the Secure Choice Retirement Savings Program (Illinois Secure Choice). Like other state retirement programs, Illinois Secure Choice mandates that all businesses with five or more employees […] READ MORE. One reason?

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Illinois payroll 97

Patriot Software

OCTOBER 23, 2023

Are you an Illinois employer? In March 2023, Illinois Governor JB Pritzker signed SB208 into law, requiring Illinois paid leave. Do you provide paid time off (PTO) to your employees? Beginning in 2024, providing paid time off is no longer a choice—it’s a state mandate.

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Illinois payroll 105

CPA Practice

MAY 30, 2023

The Illinois CPA Society (ICPAS) has selected Kiara R. She received both her bachelor’s and master’s degrees from the University of Illinois at Urbana-Champaign’s Gies College of Business. Schuh, CPA, as the recipient of its 2023 Young Professionals Leadership Award.

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Illinois CPA cpas public accounting 111

TaxConnex

FEBRUARY 15, 2024

based online retailer of pet supplies and medication, has petitioned the Illinois Independent Tax Tribunal to challenge an audit assessment. Rigid adherence to exemption-certificate rules will likely become more of a trend as other states continue to struggle with revenue generation. Uneven ‘leveling’: PetMeds, a Delray Beach, Fla.-based

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Sales Tax Illinois Washington 263

TaxConnex

APRIL 30, 2024

Minnesota is the only other state with official plans to roll out an RDF, but Illinois and New York are also discussing them. Q: What’s happening in Illinois and New York? Illinois is calling theirs a “tax,” and it would be 0.5% Are other states thinking RDFs are a good idea? of the retail selling price.

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Minnesota Retail Colorado Tax 264

CPA Practice

APRIL 21, 2023

The Illinois CPA Society (ICPAS)—one of the largest state CPA societies in the nation—has announced the honorees of its annual Outstanding Leadership Awards program, which celebrates distinguished leaders within the CPA community through a variety of prestigious awards. Jurgens, CPA | Assistant Professor, Harold Washington College Madeline K.

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TaxConnex

JUNE 17, 2021

Other states doing well with tax on marijuana include Oregon, Nevada, Massachusetts, Illinois, and Michigan. Illinois: Illinois is one of the most complex states with tax rates based primarily on the concentration of THC. State and local sales tax applies in Illinois as well. Ever-changing scene nationwide.

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Legal Illinois Nevada Oregon 225

CPA Practice

MAY 15, 2023

The Illinois CPA Society (ICPAS), in partnership with the ICPAS Women’s Committee, presented the recipients of the prestigious 2023 Women to Watch Awards at the ICPAS Women’s Leadership Forum last Friday, May 12, 2023, in Chicago, where they received their awards and participated in a panel discussion on advancing women in the accounting profession.

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TaxConnex

JANUARY 28, 2021

The Illinois Department of Revenue issued a general information letter discussing the sales and use taxability of web-based service. Alaska still has no state-wide sales tax, but the state’s local jurisdictions have formed the Alaska Remote Seller Sales Tax Commission for a streamlined administration of sales tax collection and remittance.

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Sales Alaska Tax Illinois 233

Going Concern

JANUARY 4, 2023

One state that has been fully aware of the 150 hour rule’s unintended scaring away of quality candidates is Illinois. As of this past Sunday, you can sit for the CPA exam in the state of Illinois with 120 units (you still need 150 to sit, cue The Price Is Right losing horn sound here).

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Illinois CPA cpas public accounting 95

CPA Practice

DECEMBER 18, 2023

To better understand what drives the profession’s perpetually high turnover, the Illinois CPA Society (ICPAS)—one of the largest state societies serving the certified public accountant (CPA) community—has gathered new survey data that sheds light on this trending topic.

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Illinois CPA Account accountant 119

Accounting Today

FEBRUARY 2, 2024

The Illinois CPA Society and its CPA Endowment Fund have begun accepting scholarship applications for the 2024-2025 academic year.

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Illinois cpas Account accountant 81

CPA Practice

APRIL 7, 2023

The president and CEO of the Illinois CPA Society (ICPAS) has been honored with the 2023 National Association of Personal Financial Advisors (NAPFA) Special Achievement Award. Brown, currently a Chicago resident, is a native of Fort Washington, Md.

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Accounting Today

JANUARY 10, 2024

The Illinois CPA Society and its affiliated CPA Endowment Fund of Illinois recognized the 12th and largest group of young people to date to complete its Mary T. Washington Wylie Internship Preparation Program.

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Illinois CPA Washington Education 80

CPA Practice

AUGUST 22, 2023

The Illinois CPA Society (ICPAS)—one of the largest state associations serving the certified public accountant (CPA) community—is proud to share that its latest Insight Special Feature, “ A CPA Diversity Report: Uncovering the Barriers to Success ,” has been recognized with three distinguished publications competition awards this summer.

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Illinois CPA Non-Profits B2B 97

CPA Practice

NOVEMBER 12, 2024

Top 60 accounting firm KSM (Katz, Sapper & Miller) said on Tuesday it has acquired ValueKnowledge, a Chicago-area valuation and advisory firm, effective Oct. Financial terms of the deal weren’t disclosed.

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Illinois New York accounting firms Tax 52

TaxConnex

AUGUST 3, 2021

The Illinois Department of Revenue has released an earlier letter ruling discussing the applicability of sales and compensating use taxes to various services a taxpayer offers to clients who have physical locations in Illinois. Telecommunication retailers and cancellation fees are also discussed. Minnesota Gov.

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Sales Tax New Mexico Mississippi 246

Going Concern

AUGUST 16, 2022

In Illinois, they’re taking a unique step to mitigate at least one of those factors: bumping the requirement to sit for the exam down to 120 units. The post Illinois Will Soon Let You Sit for the CPA Exam With 120 Units, Should All States? Effective January 1, 2023, you only need 120 to sit. appeared first on Going Concern.

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Illinois CPA accounting degree cpas 98

TaxConnex

SEPTEMBER 5, 2024

Clearly, rules vary state to state and recently have only gotten more complex (even more so in home rule states like Colorado, Alabama, Illinois and Louisana) though in many states stating shipping separately on the invoice excludes shipping from sales tax. By state Alabama: Shipping exempt if separately stated on the invoice.

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Sales Tax Rhode Island Kansas 264

Accounting Today

OCTOBER 3, 2024

Those affected by the storm now have until Feb. 3 to file and pay their taxes.

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Illinois Tax 118

TaxConnex

APRIL 17, 2025

Hear real-world examples on our M&A webinar, including scenarios regarding the new sourcing rules in Illinois, where exempt sales can still count toward economic nexus and VDAs and subsequent sales tax audits.) If you think your business may be impacted by sales tax developments, contact TaxConnex.

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Sales Tax Illinois audit 147

TaxConnex

JULY 12, 2022

Illinois requires retailers to notify customers of the suspension of the state 1% rate of sales and use tax on retail sales of groceries, effective July 1 through June 30, 2023. Taxable purchases and leases of equipment must be at least $15 million for any calendar year, with additional conditions effective Jan. Indiana modified?

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Sales Tax Oklahoma Illinois 246

CPA Practice

NOVEMBER 12, 2024

She returned to school to study accounting at Illinois State University, earned her CPA, and worked for Deloitte in Chicago for several years as a state and local tax accountant. Gail is a graduate of Indiana University where she earned a bachelor’s degree in journalism.

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Technology Sales Indiana Tax 126

TaxConnex

MAY 6, 2021

Other updates include: Illinois has revised its FAQs for marketplace facilitators, marketplace sellers and out-of-state retailers. Observers say the Maryland refinements are expected to become law without the governor’s signature.

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Sales North Carolina Tax Maryland 246

TaxConnex

MAY 17, 2022

In Illinois, for instance, the Leveling the Playing Field for Illinois Retail Act kicked in on Jan. Could it be the Golden State has a level of sales tax complexity that other states are now trying to emulate? Changes afoot? Many sourcing changes have cropped up in recent months.

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