Teri Grahn, CMI
Understanding GASB Statement 102: Identifying and Disclosing Risks
GASB Statement 102 introduces new financial reporting requirements designed to increase transparency and strengthen how governments communicate risk....
Editor's note: This piece was originally published in 2020 and has been updated to reference new changes in Illinois state law.
Illinois has passed bill SB 3362, amending the Leveling the Playing Field for Illinois Retail Act and now requiring remote sellers to collect sales and use taxes based on destination rates.
Under the existing law, enacted on January 1, 2021, remote sellers with some sort of physical presence in the state were only required to collect tax at 6.25% and were not required to collect any applicable local taxes.
Effective January 1, 2025, remote sellers, with some sort of physical presence, will need to collect state and local sales tax based on the sales destination rate. In-state retailers will still collect sales tax based on the rate that the sale originated from.
If you have any questions, contact Teri Grahn at 651-407-5889 or tgrahn@redpathcpas.com.
Tax Law Changes Every Construction and Real Estate Leader Should Be Watching in 2025–2026
Alex Helkamp, CPA, CCIFP: December 22, 2025
Recent legislation, part of the One Big Beautiful Bill Act (OBBBA), introduced several tax changes that will directly affect how construction and...
Redpath Welcomes Devan Henry as Audit & Assurance Partner
Redpath and Company: December 18, 2025
MINNEAPOLIS, MN – December 18, 2025 – Redpath and Company is proud to welcome Devan Henry as a Partner in the firm’s Audit & Assurance practice....