House Sponsors: CURRIE. Short description: RET OCC TX-EXEMPTION NUM-TECH Synopsis of Bill as introduced: Amends the Retailers' Occupation Tax Act by adding a Section caption to the Section concerning exemption identification numbers. HOUSE AMENDMENT NO. 1. Deletes reference to: 35 ILCS 120/1g Adds reference to: 35 ILCS 5/304 from Ch. 120, par. 3-304 35 ILCS 5/804 from Ch. 120, par. 8-804 35 ILCS 5/1501 from Ch. 120, par. 15-1501 Deletes everything. Amends the Illinois Income Tax Act. Provides that for tax years ending on or after December 31, 1998, persons other than residents who derive business income from this State and one or more other states shall apportion their business income using a single factor sales formula. Provides that this sales factor shall be a fraction, the numerator of which is the total sales of the person in this State during the taxable year, and the denominator of which is the total sales of the person everywhere during the taxable year. Provides that no penalty shall be imposed for failure to pay the estimated tax due before the effective date of this amendatory Act if the underpayments are solely attributable to the change in the apportionment of income. In the definition of "unitary business group", provides that if the members' accounting periods differ, the common parent's accounting period, or if there is no common parent, the accounting period of the member that is expected to have, on a recurring basis, the greatest Illinois income tax liability must be used to determine which apportionment method to use. Provides that the provisions of this amendatory Act apply to tax years ending on or after December 31, 1998. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status