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Saturday, November 23, 2024

Retailers' discount capped at $1,000 monthly starting January 2025

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Omer Osman Secretary of Transportation | Official website

Omer Osman Secretary of Transportation | Official website

For sales and use tax, along with other related returns due from January 1, 2025, a new cap on the retailers' discount has been set. The maximum amount that can be claimed is now limited to $1,000 per month. This change is outlined in Public Act 103-592.

Further details are available in FY Bulletin 2025-04, which addresses the new limitations on the retailers' discount for certain tax returns.

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