The Fource-IADA Silver and Bronze Telly Award Winners

We are proud and thankful for the creation of our Illinoisdealers.com site.  If you haven't already, please take time to view the site for helpful information.  

Here is a little about the Telly’s:  (kind of like the Emmys for Video Production) The Telly Awards was founded in 1979 to honor excellence in local, regional and cable television commercials with non-broadcast video and television programming added soon after. With the recent evolution and rise of digital video, the Telly Awards today also reflects and celebrates this exciting new era of the moving image on and offline. 

The Telly Awards annually showcases the best work created within television and across video, for all screens. Receiving over 12,000 entries from all 50 states and 5 continents, Telly Award winners represent work from some of the most respected advertising agencies, television stations, production companies and publishers from around the world. The Telly Awards recognizes work that has been created on the behalf of a client, for a specific brand and/or company or self-directed as a creative endeavor.

Beware of ERC Schemes

The IRS issued a news release IR-2023-40 on March 7, 2023, warning business owners of Employee Retention Credit (ERC) “schemes” by third-party operators. It includes some good basic information and links to other information such as eligibility requirements and how to file for the credit. Most of the companies offering to provide ERC services are newly created companies promising significant tax credits. They are aggressively promoting their services via television, radio, cold calling, social media, mailings, etc. Many businesses do not actually qualify, even though they are told that they do qualify by these third-party outfits. These companies charge large up-front fees and work on a contingency basis based on tax credits generated. The ERC is a legitimate credit that has helped millions of businesses. The credit can be significant and may be worth exploring for your dealership/business.  If you wish to explore the ERC further, please do so with a reputable CPA firm, bank, etc. Other information regarding the ERC can be found at https://www.irs.gov. Type ERC in the search bar for multiple links to good information.

Legal Update: Illinois Title Fee Increases to $165 on July 1

Starting July 1, 2023, the fee for an Illinois Certificate of Title will increase to $165 (from $155). Transactions transmitted on or after July 1, 2023, will be subject to the increased fee.  Registration fees and Duplicate and Corrected Titles, Dealer Lien Release Titles, and Salvage Titles are not changed.

The fee increase was included in House Bill 3817, which has not been signed into law yet, but certainly will be as in contains budget implementation provisions for the state fiscal year that starts on July 1st.  CVR is already working with SOS to implement the change.   You may need to consider contacting your DMS provider for any other reporting matters. 

2023 General Assembly Adjourns Until The Fall

The 2023 Spring Legislative Session came to an end in the early hours of May 27th.  The Illinois General Assembly approved a $50.6 billion plan for the upcoming fiscal year that begins July 1st. The budget was approved strictly on party-line voting.  The budget consisted of new initiatives, including new investments in pre-K through 12th grade education, child welfare, homelessness, and immigrants.

On the Franchise Dealer front, IADA was able to DEFEAT the following legislative bills:

  • Manufacturers' attempt to REPEAL the Warranty Reimbursement Law for Labor and Parts.
  • A shift in where tax receipts for vehicle sales are to be distributed to the municipality where the vehicle is titled rather than the dealership location.
  • Adopting California Emissions Standards
  • Unlawful for dealers to offer a subscription service for any motor vehicle feature.
  • Creates the Right to Know Act.
  • Several bills regarding Autonomous Vehicles
  • Numerous disclosures for dealers regarding automation driving features and many other legislative proposals.   

Is Your Sales Department Compliant?

The newly expanded FTC Safeguards rule takes effect June 9, 2023.  The compliance requirements can have a huge impact on your dealership if you’re not prepared.

Issues you should be concerned about:

  • Is your sales staff storing consumer information on their cell phone or personal email?
  • Do employees leave private consumer information exposed in un-secure locations?
  • Can you instantly identify fraudulent drivers' licenses and other fake documents?
  • Are you able to reliably store “dead deals” for the required 5 years?

If you would like to learn more about how top dealers manage thousands of vehicle sales every month while remaining compliant, please email or call our recommended partner, Informative (DSGSS), to set up a short demo.  Click here for more information and how to get started with informative!

Locally Imposed Sales Tax Changes Effective July 1

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Beginning July 1, 2023, the rates of certain locally imposed sales taxes that are administered by the Illinois Department of Revenue will change. Please refer to this bulletin from the Illinois Department of Revenue to see if you are affected.   Please note that these sales tax rate changes apply only to general merchandise and do not apply to vehicles.  If you are impacted, please make sure to update your processing equipment in your service department to collect the proper rate. 

Income Development Company - Ethos Group

Ethos Group partners with dealers to promote an ethical, customer-focused approach to the sale, financing, and servicing of automobiles.  You may think you’re doing it all right, but give them a chance to introduce themselves and you may learn there’s a lot more you could be earning. 

For more information, contact Lance Graves - lgraves@ethosgroup.com or call him at (402) 960-0538. 

Check out this week's Ethos “Two Minute Tune-Up” feature - Enthusiasm.  We hope you enjoy the short messages.

Federated Insurance - Educating Your Employees On Cyber Security

Did you know that approximately 88 percent of data breaches result from human error?  As business owners, you know that your company is safer when your employees understand their respective roles and responsibilities in keeping confidential information, and themselves, safe.

Have You Reviewed Your Cyber Security Risk Management Plan?

Focusing on the human defense side of cyber security is critical in our evolving digital world. It is important to increase your employees' understanding of cyber threats targeting them both at work and at home. When reviewing your cyber risk management plan, you and your team should consider: (Read more)