City Service Taxi, through its affiliate company Medallion Management Corp, is a licensed medallion manager through the City of Chicago, and has been so for over ten years. Our company is licensed and bonded, managing medallions for individuals and companies who do not wish to be involved in the day to day operations.
As part of our agreement Medallion Management will furnish equipped vehicles which meet city requirements. Our agreements generally are between two and three years. We pay all expenses related to the operation of the vehicle and any and all city fees which are due. This includes the ground transportation tax, annual renewal fee, license plates, city sticker, as well as any and all parking tickets and administrative fines. The medallion owner is responsible for the payment of the annual franchise tax for the renewal of corporation and any and all state and federal taxes related to income.
Our company pays 2 months lease fees in advance. In the event an owner chooses to sell his/her medallion prior to the termination of the agreement, we will not hold that person to the contract provided that we are given first right of refusal.
We also lease vehicles to drivers. Most of our vehicles are newer and hybrid vehicles.
Call us for information on lease fees that we pay our customers at 773-784-2000.