Illinois HB4431 amends tax rates and exemptions for various goods and services, including food, beverages, and modifications to motor vehicles for.
HB4431 modifies the tax rates and exemptions for different goods and services in Illinois. It sets a 1% tax rate for certain items like prescription and nonprescription medicines, medical devices for cancer treatment, and modifications to motor vehicles for disability use. Food for immediate consumption and certain beverages are exempt from tax. The bill also adjusts tax rates for biodiesel blends and ethanol fuels over specific periods. Effective immediately.
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- Impact
- Legal Framework
- Critical Issues
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