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Chicago reaps revenue bonanza with cloud computing tax

SEPTEMBER 6, 2019 | by Michael Bologna | BLOOMBERG DAILY TAX REPORT

The city of Chicago has figured out an innovative—and lucrative—way to tax the cloud. Chicago four years ago implemented a one-of-a-kind strategy to tax businesses for their use of remote computing services, like information from an out-of-state provider stored on the internet, or cloud, instead of on a computer hard drive …

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