ILLINOIS — The end of a grocery tax suspension, the increase of the state’s tax on gas, the doubling of certain fees; there are multiple aspects of life in Illinois set to become more expensive on July 1.

Tax on groceries returns

Perhaps the most far-reaching impending change is the return of the state’s 1% tax on sales of groceries. Though one penny for every dollar spent is arguably a low amount, it is a tax which impacts nearly every resident of Illinois.

Read the Illinois Department of Revenue’s informational bulletin for retailers on the return of this tax.

Motor fuel tax increases

The state’s Motor Fuel Tax Law imposes an annual increase on July 1 to Illinois’ Part A fuel tax. This is a separate tax from the Part B rate determined January 1 every year, and any July 1 local municipal fuel tax increases such as those in DuPage, Kane, Lake, McHenry, and Will Counties.

The yearly increase is tied to the Consumer Price Index from the U.S. Department of Labor which for 2023 is 7.41%. As such, the cost of gasoline will jump by more than three-cents per gallon on July 1 simply due to the Part A fuel tax increase which will go from $0.423 per gallon to $0.454.

The same tax increase also applies to diesel fuel, jumping from $0.498 per gallon to $0.529, liquefied natural gas, liquefied petroleum gas, and compressed natural gas.

Certain fees double for coroners and real estate transactions

House Bill 2332...

Read Full Story: https://news.google.com/rss/articles/CBMidmh0dHBzOi8vZm94Mm5vdy5jb20vbmV3cy9p...