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Illinois St 105 Form

Illinois St 105 Form

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Instructions and help about form st 105 illinois

hello my name is joanna fu cymac i am with wolf and company we're a cpa firm in the oak brook area and today i'm going to be talking about sales tax and more specifically the illinois manufacturing exemption in the illinois manufacturer's purchase credit just to give you a little bit of of history on sales tax the reason why sales tax is so important is that almost half of all state tax collections whether it's income tax sales tax property tax almost half of all of those taxes come from sales tax and so states really focus on this as an area of revenue and so it's very important to be vigilant as a company knowing when tax is due and when it's an item that you might purchase might be exempt from tax there are five states without a sales tax illinois unfortunately is not one of them but just as a general point of reference there are five states the easy way to remember this is a nomad method new hampshire oregon montana alaska and delawar

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