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Illinois Allows Third-Party Auditors, but Are They Necessary?

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Home Perspectives Illinois Allows Third-Party Auditors, but Are They Necessary?
On January 24, 2020, Illinois Gov. J.B. Pritzker (D) signed Public Act 101-0628 into law, enacting the Local Government Revenue Recapture Act (the Act).1

Authors: David P. Dorner Paul G. Bogdanski

The Act allows Illinois municipalities and counties (collectively, localities) to contract with private third-party auditors to review and monitor whether the Department of Revenue is correctly disbursing local sales tax (retailers’ occupation tax and service occupation tax) collected on behalf of Illinois localities.2

This article was originally published by Tax Analyst. To read the full article, please download the PDF below.

  1. 50 ILCS 355/1-1 et seq.
  2. Among other things, under the Act, third-party auditors must register with the DOR and pay an annual fee of $15,000. 50 ILCS 355/5-30(a).