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91_HB1324enr
HB1324 Enrolled LRB9103959PTpk
1 AN ACT to amend the Illinois Income Tax Act by changing
2 Section 703.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Income Tax Act is amended by
6 changing Section 703 as follows:
7 (35 ILCS 5/703) (from Ch. 120, par. 7-703)
8 Sec. 703. Information statement. Every employer required
9 to deduct and withhold tax under this Act from compensation
10 of an employee, or who would have been required so to deduct
11 and withhold tax if the employee's withholding exemption were
12 not in excess of the basic amount in Section 204(b), shall
13 furnish in duplicate to each such employee in respect of the
14 compensation paid by such employer to such employee during
15 the calendar year on or before January 31 of the succeeding
16 year, or, if his employment is terminated before the close of
17 such calendar year, on the date on which the last payment of
18 compensation is made, a written statement in such form as the
19 Department may by regulation prescribe showing the amount of
20 compensation paid by the employer to the employee, the amount
21 deducted and withheld as tax, the tax-exempt amount
22 contributed to a medical savings account, and such other
23 information as the Department shall prescribe. A copy of such
24 statement shall be filed by the employee with his return for
25 his taxable year to which it relates (as determined under
26 section 601(b) (1).
27 (Source: P.A. 90-613, eff. 7-9-98.)
28 Section 99. Effective date. This Act takes effect upon
29 becoming law.
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