Chicago brokers and Realtors will be exempt from the controversial city cloud tax that took effect Jan 1. The Chicago Association of Realtors (CAR) got the news in a letter last week from the city. The tax would have been on the use of data stored in the cloud; something that Realtors do, in quantity, every day. An exemption was made for individuals who are given access to data stored in the cloud as part of membership benefits for a private association. Jacob Lund / Shutterstock.com CAR members, as well as others in the state, receive access to Midwest Real Estate Data's (MRED) MLS and other data as part of membership in their respective associations. That access accounts for about $260 of members’ annual dues, and taxing that portion would have cost each member about $13 a year. The Chicago cloud tax went into effect Jan. 1, 2016 and applies to cloud software and web hosting. It was of particular concern for Realtors who often upload and maintain listing data onl...
- The city of Chicago recently granted a cloud tax exemption to Realtors.
- The tax would have amounted to about $250,000 to city coffers each year.
- Chicago is one of the first cities to propose a tax on cloud computing.
Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York