Illinois' New Social Media Tax Is a Shambles
taxfoundation.org
taxfoundation.org
NEW: Illinois is about to TAX @AllTrails
$665,000 PER MONTH!!!! That's $8 MILLION/year. Their annual revenue is only $100 M (est).
That's 8% of their revenue!!!!
This new law also taxes all other for-profit social media companies.
No I am not joking. And AllTrails is clearly in the definition.
A rough estimate via available data suggests AllTrails has 2 million users in Illinois.
A platform of this size has to pay "$165,000, plus $0.50 per month multiplied by the number of Illinois users over 1,000,000." That's $665,000!!!!