Local sales tax increment definition

Local sales tax increment means, with respect to local
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Local sales tax increment means, except as otherwise
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Local sales tax increment means an amount equal to the
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More Definitions of Local sales tax increment

Local sales tax increment means, with respect to local sales taxes administered by the Illinois Department of Revenue,
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Local sales tax increment means, with respect to local sales taxes administered by the Department:
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Local sales tax increment means that portion of the
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Local sales tax increment means, with respect to local sales taxes administered by the Illinois Department of Revenue, all of the local sales tax paid by destination users, destination hotels and entertainment users that is in excess of the local sales tax paid by destination users, destination hotels and entertainment users for the same month in the base year, as determined by the Illinois Department of Revenue; in the case of a municipality forming a STAR bond district that is wholly within the corporate boundaries of the municipality and in the case of a municipality and county forming a STAR bond district that is only partially within a municipality, that portion of the local sales tax paid by taxpayers that are not destination users, destination hotels or entertainment users that is in excess of the local sales tax paid by taxpayers that are not destination users, destination hotels, or entertainment users for the same month in the base year, as determined by the Illinois Department of Revenue; and in the case of a county in which a STAR bond district is formed that is wholly within a municipality, that portion of the local sales tax paid by taxpayers that are not destination users, destination hotels or entertainment users that is in excess of the local sales tax paid by taxpayers that are not destination users, destination hotels or entertainment users for the same month in the base year, as determined by the Illinois Department of Revenue, but only if the corporate authorities of the county adopt an ordinance, and files a copy with the Department within the same time frames as required for STAR bond occupation taxes under Section 31, that designates the taxes referenced in this clause as part of the local sales tax increment under the Act. As indicated in the previous clause, if a STAR bond district is formed that is wholly within the boundaries of a municipality, then in order for the proceeds of a county-imposed sales tax or a county's 0.25% share of the 6.25% State-imposed sales tax that is generated in the STAR bond district by taxpayers that are not destination users, destination hotels or entertainment users to be considered as part of the "local sales tax increment", the corporate authorities of the county must adopt an ordinance that designates these tax revenues as part of the local sales tax increment and file a certified copy of that ordinance with the Illinois Department of Revenue on or before April 1 for implementation on the following July 1 or on or before O...
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Related to Local sales tax increment

  • Tax Increment means the difference between:

  • Tax increment revenues means the amount of ad valorem property taxes and specific local taxes attributable to the application of the levy of all taxing jurisdictions upon the captured assessed value of real and personal property in the zone. Tax increment revenues do not include any of the following:

  • Available Tax Increment means the Gross Tax Increment received by the City from Hennepin County during the period preceding each semi-annual Payment Date, less (i) the amount of tax increment, if any, which the City must pay to the school district, the county and the state pursuant to Minnesota Statutes, Sections 469.177, Subds. 9 and 11; 469.176, Subd. 4h; and 469.175, Subd. 1a, as the same may be amended from time to time, (ii) actual administrative costs of the City in an amount not to exceed 10% of Gross Tax Increment.

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • Incremental property taxes means the taxes as provided in Iowa Code sections 403.19 and 260E.4. “Industry” means a business engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, but excludes retail, health, or professional services. An industry is a business engaged in activities described as eligible in the Act rather than the generic definition encompassing all businesses in the state doing the same activities. An industry is considered to be a single, corporate entity or operating subdivision. An industry which closes or substantially reduces its operation in one area of the state of Iowa and relocates substantially the same operation in another area of the state is not eligible for a project. This definition does not prohibit a business from expanding its operations in another area of the state provided that existing operations of a similar nature are not

  • Increment means twelve (12) months of service credit which are purchased. The

  • Recovered tax increment value means, except as otherwise

  • Declared Monthly Consumption means the Declared Monthly Consumption set out in the Acceptance Form for Electricity Supply.

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Gross Sales means the sum total of all retail sales of tangible personal property or services as