Cook County collects no county-level business income tax. Illinois imposes a 7% corporate income tax plus the 2.5% Personal Property Replacement Tax (PPRT) distributed to local governments. Cook County levies industry-specific taxes on parking, hotels, alcohol, and tobacco under Ch. 74.
Illinois eliminated the personal property tax on businesses in 1979 and replaced it with the Personal Property Replacement Tax (35 ILCS 5/201(c)-(d)): 2.5% on C-corp income and 1.5% on partnerships and S-corps, distributed to counties, schools, and local taxing bodies. The state corporate income tax adds 7% under 35 ILCS 5/201. Cook County's own business levies (Ch. 74) cover non-income items: parking, hotel, amusement, alcoholic beverage, gasoline, tobacco, firearm/ammunition, and gambling machines. The county property tax system uses different assessment percentages by class: 10% residential, 25% commercial/industrial, with Class 6b/7/8 incentives reducing assessment for rehabilitation projects.
Failure to file or pay state PPRT or Cook County industry-specific taxes triggers Department of Revenue audit, late penalties of 10-30%, plus interest at 1% monthly under 35 ILCS 735.
Other ordinances people look up for this city. Green dot = verified primary-source excerpt.
Schaumburg, IL
Schaumburg Village Code Chapter 90 (Animals) prohibits dogs from barking, howling, or making noise that unreasonably disturbs neighbors. Continuous barking f...
Schaumburg, IL
Schaumburg regulates noise from industrial and commercial operations through its noise ordinance and zoning buffer requirements. Operations near residential ...
Schaumburg, IL
Schaumburg restricts parking of commercial vehicles in residential areas. Vehicles over one ton rated capacity, semi-trucks, trailers, and heavy equipment ma...
Schaumburg, IL
Schaumburg requires a fence permit for all new fence installations and replacements in residential areas. Permit applications must include a site plan showin...
Schaumburg, IL
Schaumburg prohibits keeping dangerous wild animals as pets in residential areas. The village code restricts ownership of venomous snakes, large predatory ca...
Schaumburg, IL
Schaumburg prohibits keeping chickens, roosters, and livestock (goats, sheep, pigs, horses) on residential property. The Village Code classifies these as far...
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