(805 ILCS 5/1.17)
(from Ch. 32, par. 1.17)
Petition for refund or adjustment of
license fee, franchise tax, penalty, or interest.
(a) Any domestic corporation
or foreign corporation having authority to transact business in this State
may petition the Secretary of State for a refund or adjustment of license
fee, franchise tax, penalty, or interest claimed to have been
erroneously paid or
claimed to be payable, subject however to the following limitations:
(1) No refund shall be made unless a petition for
such shall have been filed in accordance with Section 1.10 of this Act within three years after the amount to be refunded was paid;
(2) No adjustment of any license fee, franchise tax,
penalty, or interest shall be made unless a petition for such shall have been made within three years after the amount to be adjusted should have been paid;
(3) If the refund or adjustment claimed is based upon
an instrument filed with the Secretary of State which contained a misstatement of fact, typographical error, error of transcription or other error or defect, no refund or adjustment of any license fee, franchise tax, penalty, or interest shall be made unless a statement of correction has been filed in accordance with Section 1.15 of this Act.
(b) The petition for refund or adjustment shall be executed in
accordance with Section 1.10 of this Act and shall set forth:
(1) The name of the corporation and the state or
country under the laws of which it is organized.
(2) The amount and nature of the claim.
(3) The details of each transaction and all facts
upon which the petitioner relies.
(4) Any other information required by rule.
(c) If the Secretary of State determines that any license fee, franchise
tax, penalty, or interest is incorrect, in whole or in part, he
or she shall adjust
the amount to be paid or shall refund to the corporation any amount paid in
excess of the proper amount; provided, however, that no refund shall be
made for an amount less than $200 and any refund in excess of that amount
shall be reduced by $200, and provided further, that such refund shall be
made without payment of interest.
(Source: P.A. 91-464, eff. 1-1-00.)