Starting a Business or a Home in Montgomery County?
Register with the Montgomery
County Clerk's Office and pay a $5 filing fee
Sandy Leitheiser, County Clerk
#1 Courthouse Square
PO Box 595
Hillsboro, Illinois 62049
phone:(217) 532-9530
Office Hours: M-F, 8:00 AM - 4:00 PM
www.montgomeryco.com
Publish the notice of your
business three times in the newspaper with the largest general
circulation in your area of business
Montgomery County and Individual Community Tax Rates
(source: Illinois Department of Revenue, October 2008)
Sales Taxes (retailers' and
service occupation taxes) |
General merchandise |
6.25% |
General merchandise (Litchfield) |
6.75% |
Consists of state rate |
6.25% |
Qualifying food and drugs |
1.00% |
Consists of state rate |
1.00% |
Vehicle (ST-556) |
6.25% |
Consists of state rate |
6.25% |
Use Taxes (use and service
use taxes) |
General merchandise |
6.25% |
Consists of state rate |
6.25% |
Qualifying food and drugs |
1.00% |
Consists of state rate |
1.00% |
Vehicle (RUT-25) |
6.25% |
Consists of state rate |
6.25% |
Automobile renting taxes |
Automobile renting taxes (occupation) |
5.00% |
Automobile renting taxes (occupation)(Coffeen) |
6.00% |
Automobile renting taxes (occupation)(Hillsboro) |
6.00% |
Automobile renting taxes (occupation)(Litchfield) |
6.00% |
Automobile renting taxes (occupation)(Schram City) |
6.00% |
Consists of state rate |
5.00% |
Automobile renting taxes (use) |
5.00% |
Automobile renting taxes (use)(Coffeen) |
6.00% |
Automobile renting taxes (use)(Hillsboro) |
6.00% |
Automobile renting taxes (use)(Litchfield) |
6.00% |
Automobile renting taxes (use)(Schram City) |
6.00% |
Consists of state rate |
6.25% |
Telecommunication Taxes |
Telecommunication taxes |
7.00% |
Telecommunication taxes (Coffeen) |
12.00% |
Telecommunication taxes (Farmersville) |
10.00% |
Telecommunication taxes (Harvel) |
12.00% |
Telecommunication taxes (Nokomis) |
13.00% |
Telecommunication taxes (Waggoner) |
8.50% |
All other communities assess a sales tax at the state rate of
6.25%
State of Illinois Tax Rates (2008)
Business Income Tax |
Corporations |
4.8% of net income |
Trusts and Estates |
3.0% of net income |
Individual Income Tax |
3.0% of net income |
Personal Property
Replacement Tax |
Corporations (other than S corporations) |
2.5% of net income |
Partnerships, trusts and S
corporations |
1.5% of net income |
Withholding (payroll) |
3.0% of net income is required to be withheld
from:
employee compensation based on the number of allowances claimed by the
employee, Illinois lottery winnings each time a single payment is over $1,000 for
both Illinois residents and nonresidents, and other gambling winnings paid to an Illinois resident if the winnings are
subject to federal income tax withholding requirements.
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For more information on State of Illinois Taxes:
http://www.revenue.state.il.us/Publications/listofalltaxes.htm
http://tax.illinois.gov/Publications/Sales/SalesTaxRates/FixedRates.htm
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