• Noah Jager

New Chicago Revenue Ordinance - Impact on Taxis

The new Chicago revenue ordinance that went into effect on January 1st, 2020 has some elements that substantially impact the taxi industry. We've excerpted and attached the relevant sections of the ordinance, and the full text of the new ordinance can be found here

Some highlights:

  • Medallion renewal fees have been halved - $500 now covers the two-year medallion licensure period. (9-112-150)

  • Taxicab leasing (9-112-230) has changed in a few ways. Vehicle age is no longer determinative of the lease rate, and the rates themselves have gone up slightly. There is now an hourly lease option. Additionally, the language allowing for additional lease rates to cover GTT and WAV fees has been stricken.

  • Small estate affidavits can now be used to transfer ownership of a medallion. (9-112-430)

  • The GTT rules for TNPs have changed substantially, in line with the new tax regime discussed in late 2019. Additionally, and perhaps of more interest, the lease transaction tax now applies to folks who own and lease out vehicles to TNP drivers. (3-32-050) 

It remains to be seen if these changes can improve the fortunes of the Chicago taxi industry. As always, give us a call if you have any questions about the new revenue ordinance or licensing in Chicago.

2 views

Recent Posts

See All

Incorporating in Illinois

Have a great idea for a business but don’t know where to start? At Block Law Associates, we’re ready to put our decades of experience in helping small business owners to work for you.  Many small bu

Alvin W. Block & Associates

©2020 by Alvin W. Block & Associates. Proudly created with Wix.com

312-346-5656

312-782-5625

Alvin W. Block & Associates 

1 E Wacker Drive, Suite 3100, Chicago, IL 60601

THE INFORMATION YOU OBTAIN AT THIS WEBSITE IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE.
YOU SHOULD CONSULT WITH AN ATTORNEY REGARDING ANY LEGAL QUESTIONS YOU HAVE.