Here Are Illinois’ New Taxes And Laws That Started On July 1st

Normally, you'd have to wait until January to see what new laws and/or rules and regulations the lawmakers down in Springfield saw fit to pass and send to the governor's desk for signature into law.

I hesitate to use the word "luckily" here, but you don't have to wait until January to hear about the taxes that will be going up here in Illinois, and you won't have to wait 6 months to hear about some new laws that go into effect on this, the first day of July, 2024.

As usual, try to hold your applause until the end.

As You've Probably Noticed, Illinois' Gas Taxes Just Keep Going Up, And There Doesn't Seem To Any Slowing Down

Back in 2019, Illinois governor JB Pritzker decided that one of his first official acts would be to double Illinois' gas tax from 19 cents per gallon to 38 cents per gallon, and if that weren't enough (and it wasn't) built-in annual inflationary increases were added to the mix so lawmakers wouldn't have to deal with the highly-unpopular votes on raising the gas tax.

Today is July 1st, 2024, which means that Illinois' gas tax now rises to 47 cents per gallon.

As IllinoisPolicy.org points out, "when you add up federal, state and local gas taxes, Illinois’ current gas tax of 85 cents per gallon already ranks second highest nationally. Only Californians pay higher gas taxes than Illinoisans – by less than two cents."

It's Not Just Gas Taxes That Are On The Rise In Illinois On July 1st

• Electric vehicle owners are now looking at a $100 yearly fee on top of the registration fee that they're already charged
• Video gamers will love this one: video game taxes will increase 1%, which will take them to 35%
• And, the sports wagering tax will rise for sportsbook operators. The tax will move from a 15% flat rate to a progressive rate of up to 35%
• Illinois has the 2nd highest corporate tax in the nation, along with the 2nd highest property tax rate, and of course, the 2nd highest gas taxes

As I Mentioned, It's Not Just Taxes That Are Being Added Here In Illinois--We've Added Some New Laws, Too

Here's a look at a few of the new laws that became effective at midnight here in Illinois:

• Chicago became the largest city in the United States to phase out what's called subminimum wages, so tipped workers in Chicago will be seeing an increase in how much they make on the job. Over the next five years, tipped employees will see their base pay rise to $15.80 an hour, while making additional earnings from tips.
• Undocumented immigrants will now be able to get a driver's license if they pass a driving test, have valid insurance, provide identification documents and prove their Illinois residency for at least one year.
• The Freeland Worker Protection Act, effective July 1st, adds protections to contractors from discrimination and threats. The law also obligates companies to pay freelance workers on or before the date their contractually agreed payments are due.
• Another new Illinois law seeks to protect the children of social media influencers by mandating that parents set up a trust fund for their child if they earn income from the child’s likeness.