Illinois Policymakers Should Defer Sales Tax Payments For All Small Businesses
The COVID-19 pandemic continues to have a devastating impact on individuals, families and communities. We are thankful to everyone on the front lines who is fighting against this terrible virus. The coronavirus is also causing tremendous financial stress for the small business community. Unless immediate action is taken, small businesses may be forced to close their doors and even more jobs will be lost.
Governor Pritzker has issued an executive order permitting certain restaurants and bars to defer their sales tax payments. Allowing eligible restaurants and bars to delay these payments should greatly help with the cash flow problems they are experiencing. We applaud the Governor for this action. However, all Illinois small businesses need similar relief.
The SBAC is asking that all businesses with annual sales of $3 million or less, and whose revenue has declined by 25% or more since March 1st, be allowed to defer their sales taxes in a similar manner. Small businesses are struggling to cover their expenses. Expanding the sales tax deferral to all small businesses will provide a needed tool to help save our local businesses. This will help small businesses survive while they take steps to procure additional capital.
Please click on this link to contact Governor Pritzker, Lt Governor Stratton and your state legislators. Please ask them to defer sales tax payments for all small businesses.