093_SB1488

 
                                     LRB093 04814 SJM 04870 b

 1        AN ACT in relation to taxes.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Income Tax  Act  is  amended  by
 5    changing Section 501 as follows:

 6        (35 ILCS 5/501) (from Ch. 120, par. 5-501)
 7        Sec.   501.  Notice  or  regulations  requiring  records,
 8    statements and special returns. Every person liable  for  any
 9    tax  imposed by this Act shall keep such records, render such
10    statements, make such returns and notices,  and  comply  with
11    such rules and regulations as the Department may from time to
12    time  prescribe.  Whenever in the judgment of the Director it
13    is necessary, he or she may require  any  person,  by  notice
14    served  upon  such  person  or  by  regulations, to make such
15    returns and notices, render such  statements,  or  keep  such
16    records,  as the Director deems sufficient to show whether or
17    not such person is liable for tax under this Act.
18    (Source: P.A. 76-261.)