I went to Chicago in September to visit a friend who has started his new full-time job there. My friend, S.B. had recently completed his MBA program and graduated from Michigan University. He had accepted a job offer in Sears Holding located in Chicago.
The one thing I quickly noticed about Chicago, aside from having the tallest skyscraper in the country, is that Chicago also has one of the highest, if not the highest, sales tax rate, a whopping 10.25%. Beat that New York! But no, I think NYC’s sales tax is already too high. I asked my friend about Chicago’s high sales tax rate and his answer was that Chicago has a much lower income tax rate than other states, so I think that offsets the high sales tax. Here’s what I think – earn money in Chicago and spend elsewhere.
I was in Chicago for 5 days and stayed over my friend’s place. I tried to keep my trip costs low and since I stayed over at a friend’s place, I believe that helped cut a lot of the cost. Below is my expense report for my 5-day trip. (more…)