Illinois SB3376 proposes a mark-to-market tax for certain financial transactions.
Illinois SB3376, known as the Mark-to-Market Tax Act, introduces a tax on financial transactions involving derivatives and certain other financial instruments. The tax applies to the difference between the purchase price and the selling price of these instruments. This measure aims to generate revenue and potentially influence financial market behavior by taxing speculative gains.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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