Section 500.330 Cancellation of License

a)         A licensee may request that its license be cancelled. A license will only be cancelled if all reporting requirements and tax liabilities have been met and the account is clear of any unapplied payments or credits. A licensee must request cancellation either by checking the cancellation box on the quarterly tax return and noting the date of the end of operations, or by submitting a written request for cancellation to the Department.

b)         Upon cancellation, the carrier must destroy its original license and all copies, and decals.

c)         A final audit may be conducted by the Department, or for IFTA licensees, by any IFTA jurisdiction, upon cancellation of the license. A carrier cancelling a license must retain all records for a period of four years from the due date of the final quarterly tax return.

(Source: Added at 19 Ill. Reg. 3008, effective February 28, 1995)