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Target Incentives
FAVORED
EXEMPTIONS
Transfer Tax
Exemptions
By law, state and local agencies have the right to levy a tax on the transfer of title to, or a beneficial interest in, real property. In certain geographic areas, and for specific property uses, RTS will utilize the tax code to argue for exemptions, and as a result, will typically achieve a full refund of the transfer tax levied upon buyers and sellers of that real property.
*Unlike other economic incentives, this exemption can be backward-looking.
Sales Tax
Exemptions
Though this incentive is targeted toward business owners, rather than real property owners, we recognize that an overlap does exist. We utilize the tax code to recoup all sales tax levied at the State, the County and City level for building materials used for eligible Projects. Second, for state sales tax on purchases of personal property to be used in the manufacturing or assembly process, or in the operation of a pollution control facility.
Utility
Exemptions
When eligible, RTS will apply for state utility tax exemptions on gas, electricity and the Illinois Commerce Commission’s administrative charge/telecommunication excise tax.
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