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Illinois' New Social Media Tax Is a Shambles
- rahimnathwani 4mo agoRelated: https://x.com/senatorshoshana/status/2067234027271049501?s=20 https://x.com/senatorshoshana/status/2067234027271049501?s=2... 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!!!!