Full Text of SB2519 97th General Assembly
SB2519 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 SB2519 Introduced 11/2/2011, by Sen. Jeffrey M. Schoenberg SYNOPSIS AS INTRODUCED: |
| 35 ILCS 120/3 | from Ch. 120, par. 442 |
|
Amends the Retailers' Occupation Tax Act. In a Section concerning returns filed with the Department of Revenue, provides that the taxpayer shall specify the amount attributable to in-store sales, online sales, mail order sales, telephone sales, door-to-door sales, and other sales.
|
| |
| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
|
| | | SB2519 | | LRB097 14299 HLH 59080 b |
|
| 1 | | AN ACT concerning revenue.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Retailers' Occupation Tax Act is amended by | 5 | | changing Section 3 as follows: | 6 | | (35 ILCS 120/3) (from Ch. 120, par. 442) | 7 | | Sec. 3. Except as provided in this Section, on or before | 8 | | the twentieth
day of each calendar month, every person engaged | 9 | | in the business of
selling tangible personal property at retail | 10 | | in this State during the
preceding calendar month shall file a | 11 | | return with the Department, stating: | 12 | | 1. The name of the seller; | 13 | | 2. His residence address and the address of his | 14 | | principal place of
business and the address of the | 15 | | principal place of business (if that is
a different | 16 | | address) from which he engages in the business of selling
| 17 | | tangible personal property at retail in this State; | 18 | | 3. Total amount of receipts received by him during the | 19 | | preceding
calendar month or quarter, as the case may be, | 20 | | from sales of tangible
personal property, and from services | 21 | | furnished, by him during such
preceding calendar month or | 22 | | quarter; | 23 | | 4. Total amount received by him during the preceding |
| | | SB2519 | - 2 - | LRB097 14299 HLH 59080 b |
|
| 1 | | calendar month or
quarter on charge and time sales of | 2 | | tangible personal property, and from
services furnished, | 3 | | by him prior to the month or quarter for which the return
| 4 | | is filed; | 5 | | 5. Deductions allowed by law; | 6 | | 6. Gross receipts which were received by him during the | 7 | | preceding
calendar month or quarter and upon the basis of | 8 | | which the tax is imposed; when reporting its gross receipts | 9 | | under this paragraph, the taxpayer shall specify the amount | 10 | | attributable to in-store sales, online sales, mail order | 11 | | sales, telephone sales, door-to-door sales, and other | 12 | | sales; | 13 | | 7. The amount of credit provided in Section 2d of this | 14 | | Act; | 15 | | 8. The amount of tax due; | 16 | | 9. The signature of the taxpayer; and | 17 | | 10. Such other reasonable information as the | 18 | | Department may require. | 19 | | If a taxpayer fails to sign a return within 30 days after | 20 | | the proper notice
and demand for signature by the Department, | 21 | | the return shall be considered
valid and any amount shown to be | 22 | | due on the return shall be deemed assessed. | 23 | | Each return shall be accompanied by the statement of | 24 | | prepaid tax issued
pursuant to Section 2e for which credit is | 25 | | claimed. | 26 | | Prior to October 1, 2003, and on and after September 1, |
| | | SB2519 | - 3 - | LRB097 14299 HLH 59080 b |
|
| 1 | | 2004 a retailer may accept a Manufacturer's Purchase
Credit
| 2 | | certification from a purchaser in satisfaction of Use Tax
as | 3 | | provided in Section 3-85 of the Use Tax Act if the purchaser | 4 | | provides the
appropriate documentation as required by Section | 5 | | 3-85
of the Use Tax Act. A Manufacturer's Purchase Credit
| 6 | | certification, accepted by a retailer prior to October 1, 2003 | 7 | | and on and after September 1, 2004 as provided
in
Section 3-85 | 8 | | of the Use Tax Act, may be used by that retailer to
satisfy | 9 | | Retailers' Occupation Tax liability in the amount claimed in
| 10 | | the certification, not to exceed 6.25% of the receipts
subject | 11 | | to tax from a qualifying purchase. A Manufacturer's Purchase | 12 | | Credit
reported on any original or amended return
filed under
| 13 | | this Act after October 20, 2003 for reporting periods prior to | 14 | | September 1, 2004 shall be disallowed. Manufacturer's | 15 | | Purchaser Credit reported on annual returns due on or after | 16 | | January 1, 2005 will be disallowed for periods prior to | 17 | | September 1, 2004. No Manufacturer's
Purchase Credit may be | 18 | | used after September 30, 2003 through August 31, 2004 to
| 19 | | satisfy any
tax liability imposed under this Act, including any | 20 | | audit liability. | 21 | | The Department may require returns to be filed on a | 22 | | quarterly basis.
If so required, a return for each calendar | 23 | | quarter shall be filed on or
before the twentieth day of the | 24 | | calendar month following the end of such
calendar quarter. The | 25 | | taxpayer shall also file a return with the
Department for each | 26 | | of the first two months of each calendar quarter, on or
before |
| | | SB2519 | - 4 - | LRB097 14299 HLH 59080 b |
|
| 1 | | the twentieth day of the following calendar month, stating: | 2 | | 1. The name of the seller; | 3 | | 2. The address of the principal place of business from | 4 | | which he engages
in the business of selling tangible | 5 | | personal property at retail in this State; | 6 | | 3. The total amount of taxable receipts received by him | 7 | | during the
preceding calendar month from sales of tangible | 8 | | personal property by him
during such preceding calendar | 9 | | month, including receipts from charge and
time sales, but | 10 | | less all deductions allowed by law; | 11 | | 4. The amount of credit provided in Section 2d of this | 12 | | Act; | 13 | | 5. The amount of tax due; and | 14 | | 6. Such other reasonable information as the Department | 15 | | may
require. | 16 | | Beginning on October 1, 2003, any person who is not a | 17 | | licensed
distributor, importing distributor, or manufacturer, | 18 | | as defined in the Liquor
Control Act of 1934, but is engaged in | 19 | | the business of
selling, at retail, alcoholic liquor
shall file | 20 | | a statement with the Department of Revenue, in a format
and at | 21 | | a time prescribed by the Department, showing the total amount | 22 | | paid for
alcoholic liquor purchased during the preceding month | 23 | | and such other
information as is reasonably required by the | 24 | | Department.
The Department may adopt rules to require
that this | 25 | | statement be filed in an electronic or telephonic format. Such | 26 | | rules
may provide for exceptions from the filing requirements |
| | | SB2519 | - 5 - | LRB097 14299 HLH 59080 b |
|
| 1 | | of this paragraph. For
the
purposes of this
paragraph, the term | 2 | | "alcoholic liquor" shall have the meaning prescribed in the
| 3 | | Liquor Control Act of 1934. | 4 | | Beginning on October 1, 2003, every distributor, importing | 5 | | distributor, and
manufacturer of alcoholic liquor as defined in | 6 | | the Liquor Control Act of 1934,
shall file a
statement with the | 7 | | Department of Revenue, no later than the 10th day of the
month | 8 | | for the
preceding month during which transactions occurred, by | 9 | | electronic means,
showing the
total amount of gross receipts | 10 | | from the sale of alcoholic liquor sold or
distributed during
| 11 | | the preceding month to purchasers; identifying the purchaser to | 12 | | whom it was
sold or
distributed; the purchaser's tax | 13 | | registration number; and such other
information
reasonably | 14 | | required by the Department. A distributor, importing | 15 | | distributor, or manufacturer of alcoholic liquor must | 16 | | personally deliver, mail, or provide by electronic means to | 17 | | each retailer listed on the monthly statement a report | 18 | | containing a cumulative total of that distributor's, importing | 19 | | distributor's, or manufacturer's total sales of alcoholic | 20 | | liquor to that retailer no later than the 10th day of the month | 21 | | for the preceding month during which the transaction occurred. | 22 | | The distributor, importing distributor, or manufacturer shall | 23 | | notify the retailer as to the method by which the distributor, | 24 | | importing distributor, or manufacturer will provide the sales | 25 | | information. If the retailer is unable to receive the sales | 26 | | information by electronic means, the distributor, importing |
| | | SB2519 | - 6 - | LRB097 14299 HLH 59080 b |
|
| 1 | | distributor, or manufacturer shall furnish the sales | 2 | | information by personal delivery or by mail. For purposes of | 3 | | this paragraph, the term "electronic means" includes, but is | 4 | | not limited to, the use of a secure Internet website, e-mail, | 5 | | or facsimile. | 6 | | If a total amount of less than $1 is payable, refundable or | 7 | | creditable,
such amount shall be disregarded if it is less than | 8 | | 50 cents and shall be
increased to $1 if it is 50 cents or more. | 9 | | Beginning October 1, 1993,
a taxpayer who has an average | 10 | | monthly tax liability of $150,000 or more shall
make all | 11 | | payments required by rules of the
Department by electronic | 12 | | funds transfer. Beginning October 1, 1994, a taxpayer
who has | 13 | | an average monthly tax liability of $100,000 or more shall make | 14 | | all
payments required by rules of the Department by electronic | 15 | | funds transfer.
Beginning October 1, 1995, a taxpayer who has | 16 | | an average monthly tax liability
of $50,000 or more shall make | 17 | | all
payments required by rules of the Department by electronic | 18 | | funds transfer.
Beginning October 1, 2000, a taxpayer who has | 19 | | an annual tax liability of
$200,000 or more shall make all | 20 | | payments required by rules of the Department by
electronic | 21 | | funds transfer. The term "annual tax liability" shall be the | 22 | | sum of
the taxpayer's liabilities under this Act, and under all | 23 | | other State and local
occupation and use tax laws administered | 24 | | by the Department, for the immediately
preceding calendar year.
| 25 | | The term "average monthly tax liability" shall be the sum of | 26 | | the
taxpayer's liabilities under this
Act, and under all other |
| | | SB2519 | - 7 - | LRB097 14299 HLH 59080 b |
|
| 1 | | State and local occupation and use tax
laws administered by the | 2 | | Department, for the immediately preceding calendar
year | 3 | | divided by 12.
Beginning on October 1, 2002, a taxpayer who has | 4 | | a tax liability in the
amount set forth in subsection (b) of | 5 | | Section 2505-210 of the Department of
Revenue Law shall make | 6 | | all payments required by rules of the Department by
electronic | 7 | | funds transfer. | 8 | | Before August 1 of each year beginning in 1993, the | 9 | | Department shall
notify all taxpayers required to make payments | 10 | | by electronic funds
transfer. All taxpayers
required to make | 11 | | payments by electronic funds transfer shall make those
payments | 12 | | for
a minimum of one year beginning on October 1. | 13 | | Any taxpayer not required to make payments by electronic | 14 | | funds transfer may
make payments by electronic funds transfer | 15 | | with
the permission of the Department. | 16 | | All taxpayers required to make payment by electronic funds | 17 | | transfer and
any taxpayers authorized to voluntarily make | 18 | | payments by electronic funds
transfer shall make those payments | 19 | | in the manner authorized by the Department. | 20 | | The Department shall adopt such rules as are necessary to | 21 | | effectuate a
program of electronic funds transfer and the | 22 | | requirements of this Section. | 23 | | Any amount which is required to be shown or reported on any | 24 | | return or
other document under this Act shall, if such amount | 25 | | is not a whole-dollar
amount, be increased to the nearest | 26 | | whole-dollar amount in any case where
the fractional part of a |
| | | SB2519 | - 8 - | LRB097 14299 HLH 59080 b |
|
| 1 | | dollar is 50 cents or more, and decreased to the
nearest | 2 | | whole-dollar amount where the fractional part of a dollar is | 3 | | less
than 50 cents. | 4 | | If the retailer is otherwise required to file a monthly | 5 | | return and if the
retailer's average monthly tax liability to | 6 | | the Department does not exceed
$200, the Department may | 7 | | authorize his returns to be filed on a quarter
annual basis, | 8 | | with the return for January, February and March of a given
year | 9 | | being due by April 20 of such year; with the return for April, | 10 | | May and
June of a given year being due by July 20 of such year; | 11 | | with the return for
July, August and September of a given year | 12 | | being due by October 20 of such
year, and with the return for | 13 | | October, November and December of a given
year being due by | 14 | | January 20 of the following year. | 15 | | If the retailer is otherwise required to file a monthly or | 16 | | quarterly
return and if the retailer's average monthly tax | 17 | | liability with the
Department does not exceed $50, the | 18 | | Department may authorize his returns to
be filed on an annual | 19 | | basis, with the return for a given year being due by
January 20 | 20 | | of the following year. | 21 | | Such quarter annual and annual returns, as to form and | 22 | | substance,
shall be subject to the same requirements as monthly | 23 | | returns. | 24 | | Notwithstanding any other provision in this Act concerning | 25 | | the time
within which a retailer may file his return, in the | 26 | | case of any retailer
who ceases to engage in a kind of business |
| | | SB2519 | - 9 - | LRB097 14299 HLH 59080 b |
|
| 1 | | which makes him responsible
for filing returns under this Act, | 2 | | such retailer shall file a final
return under this Act with the | 3 | | Department not more than one month after
discontinuing such | 4 | | business. | 5 | | Where the same person has more than one business registered | 6 | | with the
Department under separate registrations under this | 7 | | Act, such person may
not file each return that is due as a | 8 | | single return covering all such
registered businesses, but | 9 | | shall file separate returns for each such
registered business. | 10 | | In addition, with respect to motor vehicles, watercraft,
| 11 | | aircraft, and trailers that are required to be registered with | 12 | | an agency of
this State, every
retailer selling this kind of | 13 | | tangible personal property shall file,
with the Department, | 14 | | upon a form to be prescribed and supplied by the
Department, a | 15 | | separate return for each such item of tangible personal
| 16 | | property which the retailer sells, except that if, in the same
| 17 | | transaction, (i) a retailer of aircraft, watercraft, motor | 18 | | vehicles or
trailers transfers more than one aircraft, | 19 | | watercraft, motor
vehicle or trailer to another aircraft, | 20 | | watercraft, motor vehicle
retailer or trailer retailer for the | 21 | | purpose of resale
or (ii) a retailer of aircraft, watercraft, | 22 | | motor vehicles, or trailers
transfers more than one aircraft, | 23 | | watercraft, motor vehicle, or trailer to a
purchaser for use as | 24 | | a qualifying rolling stock as provided in Section 2-5 of
this | 25 | | Act, then
that seller may report the transfer of all aircraft,
| 26 | | watercraft, motor vehicles or trailers involved in that |
| | | SB2519 | - 10 - | LRB097 14299 HLH 59080 b |
|
| 1 | | transaction to the
Department on the same uniform | 2 | | invoice-transaction reporting return form. For
purposes of | 3 | | this Section, "watercraft" means a Class 2, Class 3, or Class 4
| 4 | | watercraft as defined in Section 3-2 of the Boat Registration | 5 | | and Safety Act, a
personal watercraft, or any boat equipped | 6 | | with an inboard motor. | 7 | | Any retailer who sells only motor vehicles, watercraft,
| 8 | | aircraft, or trailers that are required to be registered with | 9 | | an agency of
this State, so that all
retailers' occupation tax | 10 | | liability is required to be reported, and is
reported, on such | 11 | | transaction reporting returns and who is not otherwise
required | 12 | | to file monthly or quarterly returns, need not file monthly or
| 13 | | quarterly returns. However, those retailers shall be required | 14 | | to
file returns on an annual basis. | 15 | | The transaction reporting return, in the case of motor | 16 | | vehicles
or trailers that are required to be registered with an | 17 | | agency of this
State, shall
be the same document as the Uniform | 18 | | Invoice referred to in Section 5-402
of The Illinois Vehicle | 19 | | Code and must show the name and address of the
seller; the name | 20 | | and address of the purchaser; the amount of the selling
price | 21 | | including the amount allowed by the retailer for traded-in
| 22 | | property, if any; the amount allowed by the retailer for the | 23 | | traded-in
tangible personal property, if any, to the extent to | 24 | | which Section 1 of
this Act allows an exemption for the value | 25 | | of traded-in property; the
balance payable after deducting such | 26 | | trade-in allowance from the total
selling price; the amount of |
| | | SB2519 | - 11 - | LRB097 14299 HLH 59080 b |
|
| 1 | | tax due from the retailer with respect to
such transaction; the | 2 | | amount of tax collected from the purchaser by the
retailer on | 3 | | such transaction (or satisfactory evidence that such tax is
not | 4 | | due in that particular instance, if that is claimed to be the | 5 | | fact);
the place and date of the sale; a sufficient | 6 | | identification of the
property sold; such other information as | 7 | | is required in Section 5-402 of
The Illinois Vehicle Code, and | 8 | | such other information as the Department
may reasonably | 9 | | require. | 10 | | The transaction reporting return in the case of watercraft
| 11 | | or aircraft must show
the name and address of the seller; the | 12 | | name and address of the
purchaser; the amount of the selling | 13 | | price including the amount allowed
by the retailer for | 14 | | traded-in property, if any; the amount allowed by
the retailer | 15 | | for the traded-in tangible personal property, if any, to
the | 16 | | extent to which Section 1 of this Act allows an exemption for | 17 | | the
value of traded-in property; the balance payable after | 18 | | deducting such
trade-in allowance from the total selling price; | 19 | | the amount of tax due
from the retailer with respect to such | 20 | | transaction; the amount of tax
collected from the purchaser by | 21 | | the retailer on such transaction (or
satisfactory evidence that | 22 | | such tax is not due in that particular
instance, if that is | 23 | | claimed to be the fact); the place and date of the
sale, a | 24 | | sufficient identification of the property sold, and such other
| 25 | | information as the Department may reasonably require. | 26 | | Such transaction reporting return shall be filed not later |
| | | SB2519 | - 12 - | LRB097 14299 HLH 59080 b |
|
| 1 | | than 20
days after the day of delivery of the item that is | 2 | | being sold, but may
be filed by the retailer at any time sooner | 3 | | than that if he chooses to
do so. The transaction reporting | 4 | | return and tax remittance or proof of
exemption from the | 5 | | Illinois use tax may be transmitted to the Department
by way of | 6 | | the State agency with which, or State officer with whom the
| 7 | | tangible personal property must be titled or registered (if | 8 | | titling or
registration is required) if the Department and such | 9 | | agency or State
officer determine that this procedure will | 10 | | expedite the processing of
applications for title or | 11 | | registration. | 12 | | With each such transaction reporting return, the retailer | 13 | | shall remit
the proper amount of tax due (or shall submit | 14 | | satisfactory evidence that
the sale is not taxable if that is | 15 | | the case), to the Department or its
agents, whereupon the | 16 | | Department shall issue, in the purchaser's name, a
use tax | 17 | | receipt (or a certificate of exemption if the Department is
| 18 | | satisfied that the particular sale is tax exempt) which such | 19 | | purchaser
may submit to the agency with which, or State officer | 20 | | with whom, he must
title or register the tangible personal | 21 | | property that is involved (if
titling or registration is | 22 | | required) in support of such purchaser's
application for an | 23 | | Illinois certificate or other evidence of title or
registration | 24 | | to such tangible personal property. | 25 | | No retailer's failure or refusal to remit tax under this | 26 | | Act
precludes a user, who has paid the proper tax to the |
| | | SB2519 | - 13 - | LRB097 14299 HLH 59080 b |
|
| 1 | | retailer, from
obtaining his certificate of title or other | 2 | | evidence of title or
registration (if titling or registration | 3 | | is required) upon satisfying
the Department that such user has | 4 | | paid the proper tax (if tax is due) to
the retailer. The | 5 | | Department shall adopt appropriate rules to carry out
the | 6 | | mandate of this paragraph. | 7 | | If the user who would otherwise pay tax to the retailer | 8 | | wants the
transaction reporting return filed and the payment of | 9 | | the tax or proof
of exemption made to the Department before the | 10 | | retailer is willing to
take these actions and such user has not | 11 | | paid the tax to the retailer,
such user may certify to the fact | 12 | | of such delay by the retailer and may
(upon the Department | 13 | | being satisfied of the truth of such certification)
transmit | 14 | | the information required by the transaction reporting return
| 15 | | and the remittance for tax or proof of exemption directly to | 16 | | the
Department and obtain his tax receipt or exemption | 17 | | determination, in
which event the transaction reporting return | 18 | | and tax remittance (if a
tax payment was required) shall be | 19 | | credited by the Department to the
proper retailer's account | 20 | | with the Department, but without the 2.1% or 1.75%
discount | 21 | | provided for in this Section being allowed. When the user pays
| 22 | | the tax directly to the Department, he shall pay the tax in the | 23 | | same
amount and in the same form in which it would be remitted | 24 | | if the tax had
been remitted to the Department by the retailer. | 25 | | Refunds made by the seller during the preceding return | 26 | | period to
purchasers, on account of tangible personal property |
| | | SB2519 | - 14 - | LRB097 14299 HLH 59080 b |
|
| 1 | | returned to the
seller, shall be allowed as a deduction under | 2 | | subdivision 5 of his monthly
or quarterly return, as the case | 3 | | may be, in case the
seller had theretofore included the | 4 | | receipts from the sale of such
tangible personal property in a | 5 | | return filed by him and had paid the tax
imposed by this Act | 6 | | with respect to such receipts. | 7 | | Where the seller is a corporation, the return filed on | 8 | | behalf of such
corporation shall be signed by the president, | 9 | | vice-president, secretary
or treasurer or by the properly | 10 | | accredited agent of such corporation. | 11 | | Where the seller is a limited liability company, the return | 12 | | filed on behalf
of the limited liability company shall be | 13 | | signed by a manager, member, or
properly accredited agent of | 14 | | the limited liability company. | 15 | | Except as provided in this Section, the retailer filing the | 16 | | return
under this Section shall, at the time of filing such | 17 | | return, pay to the
Department the amount of tax imposed by this | 18 | | Act less a discount of 2.1%
prior to January 1, 1990 and 1.75% | 19 | | on and after January 1, 1990, or $5 per
calendar year, | 20 | | whichever is greater, which is allowed to
reimburse the | 21 | | retailer for the expenses incurred in keeping records,
| 22 | | preparing and filing returns, remitting the tax and supplying | 23 | | data to
the Department on request. Any prepayment made pursuant | 24 | | to Section 2d
of this Act shall be included in the amount on | 25 | | which such
2.1% or 1.75% discount is computed. In the case of | 26 | | retailers who report
and pay the tax on a transaction by |
| | | SB2519 | - 15 - | LRB097 14299 HLH 59080 b |
|
| 1 | | transaction basis, as provided in this
Section, such discount | 2 | | shall be taken with each such tax remittance
instead of when | 3 | | such retailer files his periodic return. | 4 | | Before October 1, 2000, if the taxpayer's average monthly | 5 | | tax liability
to the Department
under this Act, the Use Tax | 6 | | Act, the Service Occupation Tax
Act, and the Service Use Tax | 7 | | Act, excluding any liability for prepaid sales
tax to be | 8 | | remitted in accordance with Section 2d of this Act, was
$10,000
| 9 | | or more during the preceding 4 complete calendar quarters, he | 10 | | shall file a
return with the Department each month by the 20th | 11 | | day of the month next
following the month during which such tax | 12 | | liability is incurred and shall
make payments to the Department | 13 | | on or before the 7th, 15th, 22nd and last
day of the month | 14 | | during which such liability is incurred.
On and after October | 15 | | 1, 2000, if the taxpayer's average monthly tax liability
to the | 16 | | Department under this Act, the Use Tax Act, the Service | 17 | | Occupation Tax
Act, and the Service Use Tax Act, excluding any | 18 | | liability for prepaid sales tax
to be remitted in accordance | 19 | | with Section 2d of this Act, was $20,000 or more
during the | 20 | | preceding 4 complete calendar quarters, he shall file a return | 21 | | with
the Department each month by the 20th day of the month | 22 | | next following the month
during which such tax liability is | 23 | | incurred and shall make payment to the
Department on or before | 24 | | the 7th, 15th, 22nd and last day of the month during
which such | 25 | | liability is incurred.
If the month
during which such tax | 26 | | liability is incurred began prior to January 1, 1985,
each |
| | | SB2519 | - 16 - | LRB097 14299 HLH 59080 b |
|
| 1 | | payment shall be in an amount equal to 1/4 of the taxpayer's | 2 | | actual
liability for the month or an amount set by the | 3 | | Department not to exceed
1/4 of the average monthly liability | 4 | | of the taxpayer to the Department for
the preceding 4 complete | 5 | | calendar quarters (excluding the month of highest
liability and | 6 | | the month of lowest liability in such 4 quarter period). If
the | 7 | | month during which such tax liability is incurred begins on or | 8 | | after
January 1, 1985 and prior to January 1, 1987, each | 9 | | payment shall be in an
amount equal to 22.5% of the taxpayer's | 10 | | actual liability for the month or
27.5% of the taxpayer's | 11 | | liability for the same calendar
month of the preceding year. If | 12 | | the month during which such tax
liability is incurred begins on | 13 | | or after January 1, 1987 and prior to
January 1, 1988, each | 14 | | payment shall be in an amount equal to 22.5% of the
taxpayer's | 15 | | actual liability for the month or 26.25% of the taxpayer's
| 16 | | liability for the same calendar month of the preceding year. If | 17 | | the month
during which such tax liability is incurred begins on | 18 | | or after January 1,
1988, and prior to January 1, 1989, or | 19 | | begins on or after January 1, 1996, each
payment shall be in an | 20 | | amount
equal to 22.5% of the taxpayer's actual liability for | 21 | | the month or 25% of
the taxpayer's liability for the same | 22 | | calendar month of the preceding year. If
the month during which | 23 | | such tax liability is incurred begins on or after
January 1, | 24 | | 1989, and prior to January 1, 1996, each payment shall be in an
| 25 | | amount equal to 22.5% of the
taxpayer's actual liability for | 26 | | the month or 25% of the taxpayer's
liability for the same |
| | | SB2519 | - 17 - | LRB097 14299 HLH 59080 b |
|
| 1 | | calendar month of the preceding year or 100% of the
taxpayer's | 2 | | actual liability for the quarter monthly reporting period. The
| 3 | | amount of such quarter monthly payments shall be credited | 4 | | against
the final tax liability of the taxpayer's return for | 5 | | that month. Before
October 1, 2000, once
applicable, the | 6 | | requirement of the making of quarter monthly payments to
the | 7 | | Department by taxpayers having an average monthly tax liability | 8 | | of
$10,000 or more as determined in the manner provided above
| 9 | | shall continue
until such taxpayer's average monthly liability | 10 | | to the Department during
the preceding 4 complete calendar | 11 | | quarters (excluding the month of highest
liability and the | 12 | | month of lowest liability) is less than
$9,000, or until
such | 13 | | taxpayer's average monthly liability to the Department as | 14 | | computed for
each calendar quarter of the 4 preceding complete | 15 | | calendar quarter period
is less than $10,000. However, if a | 16 | | taxpayer can show the
Department that
a substantial change in | 17 | | the taxpayer's business has occurred which causes
the taxpayer | 18 | | to anticipate that his average monthly tax liability for the
| 19 | | reasonably foreseeable future will fall below the $10,000 | 20 | | threshold
stated above, then
such taxpayer
may petition the | 21 | | Department for a change in such taxpayer's reporting
status. On | 22 | | and after October 1, 2000, once applicable, the requirement of
| 23 | | the making of quarter monthly payments to the Department by | 24 | | taxpayers having an
average monthly tax liability of $20,000 or | 25 | | more as determined in the manner
provided above shall continue | 26 | | until such taxpayer's average monthly liability
to the |
| | | SB2519 | - 18 - | LRB097 14299 HLH 59080 b |
|
| 1 | | Department during the preceding 4 complete calendar quarters | 2 | | (excluding
the month of highest liability and the month of | 3 | | lowest liability) is less than
$19,000 or until such taxpayer's | 4 | | average monthly liability to the Department as
computed for | 5 | | each calendar quarter of the 4 preceding complete calendar | 6 | | quarter
period is less than $20,000. However, if a taxpayer can | 7 | | show the Department
that a substantial change in the taxpayer's | 8 | | business has occurred which causes
the taxpayer to anticipate | 9 | | that his average monthly tax liability for the
reasonably | 10 | | foreseeable future will fall below the $20,000 threshold stated
| 11 | | above, then such taxpayer may petition the Department for a | 12 | | change in such
taxpayer's reporting status. The Department | 13 | | shall change such taxpayer's
reporting status
unless it finds | 14 | | that such change is seasonal in nature and not likely to be
| 15 | | long term. If any such quarter monthly payment is not paid at | 16 | | the time or
in the amount required by this Section, then the | 17 | | taxpayer shall be liable for
penalties and interest on the | 18 | | difference
between the minimum amount due as a payment and the | 19 | | amount of such quarter
monthly payment actually and timely | 20 | | paid, except insofar as the
taxpayer has previously made | 21 | | payments for that month to the Department in
excess of the | 22 | | minimum payments previously due as provided in this Section.
| 23 | | The Department shall make reasonable rules and regulations to | 24 | | govern the
quarter monthly payment amount and quarter monthly | 25 | | payment dates for
taxpayers who file on other than a calendar | 26 | | monthly basis. |
| | | SB2519 | - 19 - | LRB097 14299 HLH 59080 b |
|
| 1 | | The provisions of this paragraph apply before October 1, | 2 | | 2001.
Without regard to whether a taxpayer is required to make | 3 | | quarter monthly
payments as specified above, any taxpayer who | 4 | | is required by Section 2d
of this Act to collect and remit | 5 | | prepaid taxes and has collected prepaid
taxes which average in | 6 | | excess of $25,000 per month during the preceding
2 complete | 7 | | calendar quarters, shall file a return with the Department as
| 8 | | required by Section 2f and shall make payments to the | 9 | | Department on or before
the 7th, 15th, 22nd and last day of the | 10 | | month during which such liability
is incurred. If the month | 11 | | during which such tax liability is incurred
began prior to the | 12 | | effective date of this amendatory Act of 1985, each
payment | 13 | | shall be in an amount not less than 22.5% of the taxpayer's | 14 | | actual
liability under Section 2d. If the month during which | 15 | | such tax liability
is incurred begins on or after January 1, | 16 | | 1986, each payment shall be in an
amount equal to 22.5% of the | 17 | | taxpayer's actual liability for the month or
27.5% of the | 18 | | taxpayer's liability for the same calendar month of the
| 19 | | preceding calendar year. If the month during which such tax | 20 | | liability is
incurred begins on or after January 1, 1987, each | 21 | | payment shall be in an
amount equal to 22.5% of the taxpayer's | 22 | | actual liability for the month or
26.25% of the taxpayer's | 23 | | liability for the same calendar month of the
preceding year. | 24 | | The amount of such quarter monthly payments shall be
credited | 25 | | against the final tax liability of the taxpayer's return for | 26 | | that
month filed under this Section or Section 2f, as the case |
| | | SB2519 | - 20 - | LRB097 14299 HLH 59080 b |
|
| 1 | | may be. Once
applicable, the requirement of the making of | 2 | | quarter monthly payments to
the Department pursuant to this | 3 | | paragraph shall continue until such
taxpayer's average monthly | 4 | | prepaid tax collections during the preceding 2
complete | 5 | | calendar quarters is $25,000 or less. If any such quarter | 6 | | monthly
payment is not paid at the time or in the amount | 7 | | required, the taxpayer
shall be liable for penalties and | 8 | | interest on such difference, except
insofar as the taxpayer has | 9 | | previously made payments for that month in
excess of the | 10 | | minimum payments previously due. | 11 | | The provisions of this paragraph apply on and after October | 12 | | 1, 2001.
Without regard to whether a taxpayer is required to | 13 | | make quarter monthly
payments as specified above, any taxpayer | 14 | | who is required by Section 2d of this
Act to collect and remit | 15 | | prepaid taxes and has collected prepaid taxes that
average in | 16 | | excess of $20,000 per month during the preceding 4 complete | 17 | | calendar
quarters shall file a return with the Department as | 18 | | required by Section 2f
and shall make payments to the | 19 | | Department on or before the 7th, 15th, 22nd and
last day of the | 20 | | month during which the liability is incurred. Each payment
| 21 | | shall be in an amount equal to 22.5% of the taxpayer's actual | 22 | | liability for the
month or 25% of the taxpayer's liability for | 23 | | the same calendar month of the
preceding year. The amount of | 24 | | the quarter monthly payments shall be credited
against the | 25 | | final tax liability of the taxpayer's return for that month | 26 | | filed
under this Section or Section 2f, as the case may be. |
| | | SB2519 | - 21 - | LRB097 14299 HLH 59080 b |
|
| 1 | | Once applicable, the
requirement of the making of quarter | 2 | | monthly payments to the Department
pursuant to this paragraph | 3 | | shall continue until the taxpayer's average monthly
prepaid tax | 4 | | collections during the preceding 4 complete calendar quarters
| 5 | | (excluding the month of highest liability and the month of | 6 | | lowest liability) is
less than $19,000 or until such taxpayer's | 7 | | average monthly liability to the
Department as computed for | 8 | | each calendar quarter of the 4 preceding complete
calendar | 9 | | quarters is less than $20,000. If any such quarter monthly | 10 | | payment is
not paid at the time or in the amount required, the | 11 | | taxpayer shall be liable
for penalties and interest on such | 12 | | difference, except insofar as the taxpayer
has previously made | 13 | | payments for that month in excess of the minimum payments
| 14 | | previously due. | 15 | | If any payment provided for in this Section exceeds
the | 16 | | taxpayer's liabilities under this Act, the Use Tax Act, the | 17 | | Service
Occupation Tax Act and the Service Use Tax Act, as | 18 | | shown on an original
monthly return, the Department shall, if | 19 | | requested by the taxpayer, issue to
the taxpayer a credit | 20 | | memorandum no later than 30 days after the date of
payment. The | 21 | | credit evidenced by such credit memorandum may
be assigned by | 22 | | the taxpayer to a similar taxpayer under this Act, the
Use Tax | 23 | | Act, the Service Occupation Tax Act or the Service Use Tax Act, | 24 | | in
accordance with reasonable rules and regulations to be | 25 | | prescribed by the
Department. If no such request is made, the | 26 | | taxpayer may credit such excess
payment against tax liability |
| | | SB2519 | - 22 - | LRB097 14299 HLH 59080 b |
|
| 1 | | subsequently to be remitted to the Department
under this Act, | 2 | | the Use Tax Act, the Service Occupation Tax Act or the
Service | 3 | | Use Tax Act, in accordance with reasonable rules and | 4 | | regulations
prescribed by the Department. If the Department | 5 | | subsequently determined
that all or any part of the credit | 6 | | taken was not actually due to the
taxpayer, the taxpayer's 2.1% | 7 | | and 1.75% vendor's discount shall be reduced
by 2.1% or 1.75% | 8 | | of the difference between the credit taken and that
actually | 9 | | due, and that taxpayer shall be liable for penalties and | 10 | | interest
on such difference. | 11 | | If a retailer of motor fuel is entitled to a credit under | 12 | | Section 2d of
this Act which exceeds the taxpayer's liability | 13 | | to the Department under
this Act for the month which the | 14 | | taxpayer is filing a return, the
Department shall issue the | 15 | | taxpayer a credit memorandum for the excess. | 16 | | Beginning January 1, 1990, each month the Department shall | 17 | | pay into
the Local Government Tax Fund, a special fund in the | 18 | | State treasury which
is hereby created, the net revenue | 19 | | realized for the preceding month from
the 1% tax on sales of | 20 | | food for human consumption which is to be consumed
off the | 21 | | premises where it is sold (other than alcoholic beverages, soft
| 22 | | drinks and food which has been prepared for immediate | 23 | | consumption) and
prescription and nonprescription medicines, | 24 | | drugs, medical appliances and
insulin, urine testing | 25 | | materials, syringes and needles used by diabetics. | 26 | | Beginning January 1, 1990, each month the Department shall |
| | | SB2519 | - 23 - | LRB097 14299 HLH 59080 b |
|
| 1 | | pay into
the County and Mass Transit District Fund, a special | 2 | | fund in the State
treasury which is hereby created, 4% of the | 3 | | net revenue realized
for the preceding month from the 6.25% | 4 | | general rate. | 5 | | Beginning August 1, 2000, each
month the Department shall | 6 | | pay into the
County and Mass Transit District Fund 20% of the | 7 | | net revenue realized for the
preceding month from the 1.25% | 8 | | rate on the selling price of motor fuel and
gasohol. Beginning | 9 | | September 1, 2010, each month the Department shall pay into the | 10 | | County and Mass Transit District Fund 20% of the net revenue | 11 | | realized for the preceding month from the 1.25% rate on the | 12 | | selling price of sales tax holiday items. | 13 | | Beginning January 1, 1990, each month the Department shall | 14 | | pay into
the Local Government Tax Fund 16% of the net revenue | 15 | | realized for the
preceding month from the 6.25% general rate on | 16 | | the selling price of
tangible personal property. | 17 | | Beginning August 1, 2000, each
month the Department shall | 18 | | pay into the
Local Government Tax Fund 80% of the net revenue | 19 | | realized for the preceding
month from the 1.25% rate on the | 20 | | selling price of motor fuel and gasohol. Beginning September 1, | 21 | | 2010, each month the Department shall pay into the Local | 22 | | Government Tax Fund 80% of the net revenue realized for the | 23 | | preceding month from the 1.25% rate on the selling price of | 24 | | sales tax holiday items. | 25 | | Beginning October 1, 2009, each month the Department shall | 26 | | pay into the Capital Projects Fund an amount that is equal to |
| | | SB2519 | - 24 - | LRB097 14299 HLH 59080 b |
|
| 1 | | an amount estimated by the Department to represent 80% of the | 2 | | net revenue realized for the preceding month from the sale of | 3 | | candy, grooming and hygiene products, and soft drinks that had | 4 | | been taxed at a rate of 1% prior to September 1, 2009 but that | 5 | | is now taxed at 6.25%. | 6 | | Beginning July 1, 2011, each
month the Department shall pay | 7 | | into the Clean Air Act (CAA) Permit Fund 80% of the net revenue | 8 | | realized for the
preceding month from the 6.25% general rate on | 9 | | the selling price of sorbents used in Illinois in the process | 10 | | of sorbent injection as used to comply with the Environmental | 11 | | Protection Act or the federal Clean Air Act, but the total | 12 | | payment into the Clean Air Act (CAA) Permit Fund under this Act | 13 | | and the Use Tax Act shall not exceed $2,000,000 in any fiscal | 14 | | year. | 15 | | Of the remainder of the moneys received by the Department | 16 | | pursuant
to this Act, (a) 1.75% thereof shall be paid into the | 17 | | Build Illinois
Fund and (b) prior to July 1, 1989, 2.2% and on | 18 | | and after July 1, 1989,
3.8% thereof shall be paid into the | 19 | | Build Illinois Fund; provided, however,
that if in any fiscal | 20 | | year the sum of (1) the aggregate of 2.2% or 3.8%, as
the case | 21 | | may be, of the moneys received by the Department and required | 22 | | to
be paid into the Build Illinois Fund pursuant to this Act, | 23 | | Section 9 of the
Use Tax Act, Section 9 of the Service Use Tax | 24 | | Act, and Section 9 of the
Service Occupation Tax Act, such Acts | 25 | | being hereinafter called the "Tax
Acts" and such aggregate of | 26 | | 2.2% or 3.8%, as the case may be, of moneys
being hereinafter |
| | | SB2519 | - 25 - | LRB097 14299 HLH 59080 b |
|
| 1 | | called the "Tax Act Amount", and (2) the amount
transferred to | 2 | | the Build Illinois Fund from the State and Local Sales Tax
| 3 | | Reform Fund shall be less than the Annual Specified Amount (as | 4 | | hereinafter
defined), an amount equal to the difference shall | 5 | | be immediately paid into
the Build Illinois Fund from other | 6 | | moneys received by the Department
pursuant to the Tax Acts; the | 7 | | "Annual Specified Amount" means the amounts
specified below for | 8 | | fiscal years 1986 through 1993: | |
9 | | Fiscal Year | Annual Specified Amount | |
10 | | 1986 | $54,800,000 | |
11 | | 1987 | $76,650,000 | |
12 | | 1988 | $80,480,000 | |
13 | | 1989 | $88,510,000 | |
14 | | 1990 | $115,330,000 | |
15 | | 1991 | $145,470,000 | |
16 | | 1992 | $182,730,000 | |
17 | | 1993 | $206,520,000; |
| 18 | | and means the Certified Annual Debt Service Requirement (as | 19 | | defined in
Section 13 of the Build Illinois Bond Act) or the | 20 | | Tax Act Amount, whichever
is greater, for fiscal year 1994 and | 21 | | each fiscal year thereafter; and
further provided, that if on | 22 | | the last business day of any month the sum of
(1) the Tax Act | 23 | | Amount required to be deposited into the Build Illinois
Bond | 24 | | Account in the Build Illinois Fund during such month and (2) | 25 | | the
amount transferred to the Build Illinois Fund from the | 26 | | State and Local
Sales Tax Reform Fund shall have been less than |
| | | SB2519 | - 26 - | LRB097 14299 HLH 59080 b |
|
| 1 | | 1/12 of the Annual
Specified Amount, an amount equal to the | 2 | | difference shall be immediately
paid into the Build Illinois | 3 | | Fund from other moneys received by the
Department pursuant to | 4 | | the Tax Acts; and, further provided, that in no
event shall the | 5 | | payments required under the preceding proviso result in
| 6 | | aggregate payments into the Build Illinois Fund pursuant to | 7 | | this clause (b)
for any fiscal year in excess of the greater of | 8 | | (i) the Tax Act Amount or
(ii) the Annual Specified Amount for | 9 | | such fiscal year. The amounts payable
into the Build Illinois | 10 | | Fund under clause (b) of the first sentence in this
paragraph | 11 | | shall be payable only until such time as the aggregate amount | 12 | | on
deposit under each trust indenture securing Bonds issued and | 13 | | outstanding
pursuant to the Build Illinois Bond Act is | 14 | | sufficient, taking into account
any future investment income, | 15 | | to fully provide, in accordance with such
indenture, for the | 16 | | defeasance of or the payment of the principal of,
premium, if | 17 | | any, and interest on the Bonds secured by such indenture and on
| 18 | | any Bonds expected to be issued thereafter and all fees and | 19 | | costs payable
with respect thereto, all as certified by the | 20 | | Director of the Bureau of the
Budget (now Governor's Office of | 21 | | Management and Budget). If on the last
business day of any | 22 | | month in which Bonds are
outstanding pursuant to the Build | 23 | | Illinois Bond Act, the aggregate of
moneys deposited in the | 24 | | Build Illinois Bond Account in the Build Illinois
Fund in such | 25 | | month shall be less than the amount required to be transferred
| 26 | | in such month from the Build Illinois Bond Account to the Build |
| | | SB2519 | - 27 - | LRB097 14299 HLH 59080 b |
|
| 1 | | Illinois
Bond Retirement and Interest Fund pursuant to Section | 2 | | 13 of the Build
Illinois Bond Act, an amount equal to such | 3 | | deficiency shall be immediately
paid from other moneys received | 4 | | by the Department pursuant to the Tax Acts
to the Build | 5 | | Illinois Fund; provided, however, that any amounts paid to the
| 6 | | Build Illinois Fund in any fiscal year pursuant to this | 7 | | sentence shall be
deemed to constitute payments pursuant to | 8 | | clause (b) of the first sentence
of this paragraph and shall | 9 | | reduce the amount otherwise payable for such
fiscal year | 10 | | pursuant to that clause (b). The moneys received by the
| 11 | | Department pursuant to this Act and required to be deposited | 12 | | into the Build
Illinois Fund are subject to the pledge, claim | 13 | | and charge set forth in
Section 12 of the Build Illinois Bond | 14 | | Act. | 15 | | Subject to payment of amounts into the Build Illinois Fund | 16 | | as provided in
the preceding paragraph or in any amendment | 17 | | thereto hereafter enacted, the
following specified monthly | 18 | | installment of the amount requested in the
certificate of the | 19 | | Chairman of the Metropolitan Pier and Exposition
Authority | 20 | | provided under Section 8.25f of the State Finance Act, but not | 21 | | in
excess of sums designated as "Total Deposit", shall be | 22 | | deposited in the
aggregate from collections under Section 9 of | 23 | | the Use Tax Act, Section 9 of
the Service Use Tax Act, Section | 24 | | 9 of the Service Occupation Tax Act, and
Section 3 of the | 25 | | Retailers' Occupation Tax Act into the McCormick Place
| 26 | | Expansion Project Fund in the specified fiscal years. | |
| | | SB2519 | - 28 - | LRB097 14299 HLH 59080 b |
|
| 1 | | Fiscal Year | | Total Deposit | |
2 | | 1993 | | $0 | |
3 | | 1994 | | 53,000,000 | |
4 | | 1995 | | 58,000,000 | |
5 | | 1996 | | 61,000,000 | |
6 | | 1997 | | 64,000,000 | |
7 | | 1998 | | 68,000,000 | |
8 | | 1999 | | 71,000,000 | |
9 | | 2000 | | 75,000,000 | |
10 | | 2001 | | 80,000,000 | |
11 | | 2002 | | 93,000,000 | |
12 | | 2003 | | 99,000,000 | |
13 | | 2004 | | 103,000,000 | |
14 | | 2005 | | 108,000,000 | |
15 | | 2006 | | 113,000,000 | |
16 | | 2007 | | 119,000,000 | |
17 | | 2008 | | 126,000,000 | |
18 | | 2009 | | 132,000,000 | |
19 | | 2010 | | 139,000,000 | |
20 | | 2011 | | 146,000,000 | |
21 | | 2012 | | 153,000,000 | |
22 | | 2013 | | 161,000,000 | |
23 | | 2014 | | 170,000,000 | |
24 | | 2015 | | 179,000,000 | |
25 | | 2016 | | 189,000,000 | |
|
| | | SB2519 | - 29 - | LRB097 14299 HLH 59080 b |
|
| 1 | | 2017 | | 199,000,000 | |
2 | | 2018 | | 210,000,000 | |
3 | | 2019 | | 221,000,000 | |
4 | | 2020 | | 233,000,000 | |
5 | | 2021 | | 246,000,000 | |
6 | | 2022 | | 260,000,000 | |
7 | | 2023 | | 275,000,000 | |
8 | | 2024 | | 275,000,000 | |
9 | | 2025 | | 275,000,000 | |
10 | | 2026 | | 279,000,000 | |
11 | | 2027 | | 292,000,000 | |
12 | | 2028 | | 307,000,000 | |
13 | | 2029 | | 322,000,000 | |
14 | | 2030 | | 338,000,000 | |
15 | | 2031 | | 350,000,000 | |
16 | | 2032 | | 350,000,000 | |
17 | | and | | |
|
18 | | each fiscal year | | |
|
19 | | thereafter that bonds | | |
|
20 | | are outstanding under | | |
|
21 | | Section 13.2 of the | | |
|
22 | | Metropolitan Pier and | | |
|
23 | | Exposition Authority Act, | | |
|
24 | | but not after fiscal year 2060. | | |
| 25 | | Beginning July 20, 1993 and in each month of each fiscal | 26 | | year thereafter,
one-eighth of the amount requested in the |
| | | SB2519 | - 30 - | LRB097 14299 HLH 59080 b |
|
| 1 | | certificate of the Chairman of
the Metropolitan Pier and | 2 | | Exposition Authority for that fiscal year, less
the amount | 3 | | deposited into the McCormick Place Expansion Project Fund by | 4 | | the
State Treasurer in the respective month under subsection | 5 | | (g) of Section 13
of the Metropolitan Pier and Exposition | 6 | | Authority Act, plus cumulative
deficiencies in the deposits | 7 | | required under this Section for previous
months and years, | 8 | | shall be deposited into the McCormick Place Expansion
Project | 9 | | Fund, until the full amount requested for the fiscal year, but | 10 | | not
in excess of the amount specified above as "Total Deposit", | 11 | | has been deposited. | 12 | | Subject to payment of amounts into the Build Illinois Fund | 13 | | and the
McCormick Place Expansion Project Fund pursuant to the | 14 | | preceding paragraphs
or in any amendments
thereto hereafter | 15 | | enacted, beginning July 1, 1993, the Department shall each
| 16 | | month pay into the Illinois Tax Increment Fund 0.27% of 80% of | 17 | | the net revenue
realized for the preceding month from the 6.25% | 18 | | general rate on the selling
price of tangible personal | 19 | | property. | 20 | | Subject to payment of amounts into the Build Illinois Fund | 21 | | and the
McCormick Place Expansion Project Fund pursuant to the | 22 | | preceding paragraphs or in any
amendments thereto hereafter | 23 | | enacted, beginning with the receipt of the first
report of | 24 | | taxes paid by an eligible business and continuing for a 25-year
| 25 | | period, the Department shall each month pay into the Energy | 26 | | Infrastructure
Fund 80% of the net revenue realized from the |
| | | SB2519 | - 31 - | LRB097 14299 HLH 59080 b |
|
| 1 | | 6.25% general rate on the
selling price of Illinois-mined coal | 2 | | that was sold to an eligible business.
For purposes of this | 3 | | paragraph, the term "eligible business" means a new
electric | 4 | | generating facility certified pursuant to Section 605-332 of | 5 | | the
Department of Commerce and Economic Opportunity
Law of the | 6 | | Civil Administrative Code of Illinois. | 7 | | Of the remainder of the moneys received by the Department | 8 | | pursuant to
this Act, 75% thereof shall be paid into the State | 9 | | Treasury and 25% shall
be reserved in a special account and | 10 | | used only for the transfer to the
Common School Fund as part of | 11 | | the monthly transfer from the General Revenue
Fund in | 12 | | accordance with Section 8a of the State Finance Act. | 13 | | The Department may, upon separate written notice to a | 14 | | taxpayer,
require the taxpayer to prepare and file with the | 15 | | Department on a form
prescribed by the Department within not | 16 | | less than 60 days after receipt
of the notice an annual | 17 | | information return for the tax year specified in
the notice. | 18 | | Such annual return to the Department shall include a
statement | 19 | | of gross receipts as shown by the retailer's last Federal | 20 | | income
tax return. If the total receipts of the business as | 21 | | reported in the
Federal income tax return do not agree with the | 22 | | gross receipts reported to
the Department of Revenue for the | 23 | | same period, the retailer shall attach
to his annual return a | 24 | | schedule showing a reconciliation of the 2
amounts and the | 25 | | reasons for the difference. The retailer's annual
return to the | 26 | | Department shall also disclose the cost of goods sold by
the |
| | | SB2519 | - 32 - | LRB097 14299 HLH 59080 b |
|
| 1 | | retailer during the year covered by such return, opening and | 2 | | closing
inventories of such goods for such year, costs of goods | 3 | | used from stock
or taken from stock and given away by the | 4 | | retailer during such year,
payroll information of the | 5 | | retailer's business during such year and any
additional | 6 | | reasonable information which the Department deems would be
| 7 | | helpful in determining the accuracy of the monthly, quarterly | 8 | | or annual
returns filed by such retailer as provided for in | 9 | | this Section. | 10 | | If the annual information return required by this Section | 11 | | is not
filed when and as required, the taxpayer shall be liable | 12 | | as follows: | 13 | | (i) Until January 1, 1994, the taxpayer shall be liable
| 14 | | for a penalty equal to 1/6 of 1% of the tax due from such | 15 | | taxpayer under
this Act during the period to be covered by | 16 | | the annual return for each
month or fraction of a month | 17 | | until such return is filed as required, the
penalty to be | 18 | | assessed and collected in the same manner as any other
| 19 | | penalty provided for in this Act. | 20 | | (ii) On and after January 1, 1994, the taxpayer shall | 21 | | be
liable for a penalty as described in Section 3-4 of the | 22 | | Uniform Penalty and
Interest Act. | 23 | | The chief executive officer, proprietor, owner or highest | 24 | | ranking
manager shall sign the annual return to certify the | 25 | | accuracy of the
information contained therein. Any person who | 26 | | willfully signs the
annual return containing false or |
| | | SB2519 | - 33 - | LRB097 14299 HLH 59080 b |
|
| 1 | | inaccurate information shall be guilty
of perjury and punished | 2 | | accordingly. The annual return form prescribed
by the | 3 | | Department shall include a warning that the person signing the
| 4 | | return may be liable for perjury. | 5 | | The provisions of this Section concerning the filing of an | 6 | | annual
information return do not apply to a retailer who is not | 7 | | required to
file an income tax return with the United States | 8 | | Government. | 9 | | As soon as possible after the first day of each month, upon | 10 | | certification
of the Department of Revenue, the Comptroller | 11 | | shall order transferred and
the Treasurer shall transfer from | 12 | | the General Revenue Fund to the Motor
Fuel Tax Fund an amount | 13 | | equal to 1.7% of 80% of the net revenue realized
under this Act | 14 | | for the second preceding
month.
Beginning April 1, 2000, this | 15 | | transfer is no longer required
and shall not be made. | 16 | | Net revenue realized for a month shall be the revenue | 17 | | collected by the
State pursuant to this Act, less the amount | 18 | | paid out during that month as
refunds to taxpayers for | 19 | | overpayment of liability. | 20 | | For greater simplicity of administration, manufacturers, | 21 | | importers
and wholesalers whose products are sold at retail in | 22 | | Illinois by
numerous retailers, and who wish to do so, may | 23 | | assume the responsibility
for accounting and paying to the | 24 | | Department all tax accruing under this
Act with respect to such | 25 | | sales, if the retailers who are affected do not
make written | 26 | | objection to the Department to this arrangement. |
| | | SB2519 | - 34 - | LRB097 14299 HLH 59080 b |
|
| 1 | | Any person who promotes, organizes, provides retail | 2 | | selling space for
concessionaires or other types of sellers at | 3 | | the Illinois State Fair, DuQuoin
State Fair, county fairs, | 4 | | local fairs, art shows, flea markets and similar
exhibitions or | 5 | | events, including any transient merchant as defined by Section | 6 | | 2
of the Transient Merchant Act of 1987, is required to file a | 7 | | report with the
Department providing the name of the merchant's | 8 | | business, the name of the
person or persons engaged in | 9 | | merchant's business, the permanent address and
Illinois | 10 | | Retailers Occupation Tax Registration Number of the merchant, | 11 | | the
dates and location of the event and other reasonable | 12 | | information that the
Department may require. The report must be | 13 | | filed not later than the 20th day
of the month next following | 14 | | the month during which the event with retail sales
was held. | 15 | | Any person who fails to file a report required by this Section
| 16 | | commits a business offense and is subject to a fine not to | 17 | | exceed $250. | 18 | | Any person engaged in the business of selling tangible | 19 | | personal
property at retail as a concessionaire or other type | 20 | | of seller at the
Illinois State Fair, county fairs, art shows, | 21 | | flea markets and similar
exhibitions or events, or any | 22 | | transient merchants, as defined by Section 2
of the Transient | 23 | | Merchant Act of 1987, may be required to make a daily report
of | 24 | | the amount of such sales to the Department and to make a daily | 25 | | payment of
the full amount of tax due. The Department shall | 26 | | impose this
requirement when it finds that there is a |
| | | SB2519 | - 35 - | LRB097 14299 HLH 59080 b |
|
| 1 | | significant risk of loss of
revenue to the State at such an | 2 | | exhibition or event. Such a finding
shall be based on evidence | 3 | | that a substantial number of concessionaires
or other sellers | 4 | | who are not residents of Illinois will be engaging in
the | 5 | | business of selling tangible personal property at retail at the
| 6 | | exhibition or event, or other evidence of a significant risk of | 7 | | loss of revenue
to the State. The Department shall notify | 8 | | concessionaires and other sellers
affected by the imposition of | 9 | | this requirement. In the absence of
notification by the | 10 | | Department, the concessionaires and other sellers
shall file | 11 | | their returns as otherwise required in this Section. | 12 | | (Source: P.A. 96-34, eff. 7-13-09; 96-38, eff. 7-13-09; 96-898, | 13 | | eff. 5-27-10; 96-1012, eff. 7-7-10; 97-95, eff. 7-12-11; | 14 | | 97-333, eff. 8-12-11.)
|
|