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Chief information officers need to understand industry cloud’s capabilities, its supporting technology, and what steps to take before implementing it.

Summary As part of the 2021 Chicago budget, the Chicago Personal Property Lease Transaction Tax, "cloud tax," has been approved for an increase. Effective January 1, 2021, this Chicago tax will increase from 7.25% to 9%. This is an additional increase from the 2020 budget, which approved an increase of the "cloud tax" from 5.25% to 7.25%, effective January 1, 2020. History For several years, the tax rate for most lease transactions was 9%. However, the aforementioned lower rates of 5.25% and 7...