USA – ILLINOIS Law and Practice Contributed by: Carmen D. Caruso, Bill Whitner and Gage Meyers, Carmen D. Caruso Law Firm
agreement, and has no general stamp-duty regime comparable to those found in many other countries. Separate taxes may apply, however, if the transaction involves transferring an interest in Illinois real estate – for example, the Illinois Real Estate Transfer Tax may apply to the sale of real property, the transfer of cer - tain long-term ground-lease interests, or the transfer of a controlling interest in an entity formed or acting substantially to hold Illinois real estate. See 35 ILCS 200/31-5, 31-10. A franchise agreement, by itself, does not trigger an Illinois stamp or document tax.
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