Business Alert: Date Set for Collection of Sweetened Beverage Tax
Posted on August 1, 2017
The Cook County Sweetened Beverage Tax (SBT) will go into effect on Wednesday, August 2, due to the recent decision by the Circuit Court judge to dismiss the Illinois Retail Merchants Association’s lawsuit against the Cook County.
Those retailers that are required by the ordinance to remit a floor tax must calculate that tax on Tuesday, August 1. Both the first installment of the SBT and the floor tax must be remitted to the County by September 20. Returns and tax for subsequent months are due by the 20th of the month following the taxable month.
Distributors and retailers that qualify to register as distributors must be registered with the Cook County Department of Revenue. Those who have not yet registered must do so as soon as possible. The Illinois Retail Merchants Association suggests that you register prior to August 2 if you have not already done so. It is unlikely that the department will approve a retailer’s request to be a distributor if you have already begun to collect the tax.
Visit the County’s website for updates and to re-familiarize yourselves with all of the various regulations and the Q&A document.