(805 ILCS 5/15.80) (from Ch. 32, par. 15.80)
Sec. 15.80.
Computation and collection of annual franchise taxes -
proceeding for dissolution or revocation if not paid.
(a) It shall be the duty
of the Secretary of State to collect all annual franchise taxes,
penalties, and interest imposed by or payable in accordance with this Act.
(b) During the calendar year 1983, each corporation must pay its annual
franchise tax within 60 days preceding July 1, 1983, for the taxable year
beginning July 1, 1983 to each corporation's anniversary month in 1984;
thereafter, within 60 days prior to the first day of the anniversary month
or, in cases where a corporation has established an extended filing
month, the extended filing month each year the Secretary of State shall
collect from each corporation, domestic or foreign, required to file an
annual report in such year, the franchise tax payable by it for the 12
months' period commencing on the first day of the anniversary month or, in
cases where a corporation has established an extended filing month, the
extended filing month of such year or, in the case of a corporation which
has filed a statement of election of an extended filing date, the interim
period resulting therefrom in accordance with the foregoing provisions;
and, if it has failed to file its annual report and pay its franchise tax
within the time prescribed by this Act, the penalties and interest will be
imposed
pursuant to this Act upon such corporation for its failure so to do; and
the Secretary of State shall mail a written notice to each corporation
against which such tax is payable, addressed to such corporation at its
registered office in this State, notifying the corporation: (1) of the
amount of franchise tax payable for the taxable year and the
amount of
penalties and interest due for failure to file its annual report and pay
its franchise tax; and (2) that such tax and penalties and interest shall
be payable to the Secretary of State. Failure to receive such notice shall
not relieve the corporation of its obligation to pay the tax and any
penalties and any interest due or invalidate the validity thereof.
(c) All annual franchise taxes for the taxable year
commencing on July 1,
1983 to the anniversary month of each corporation in 1984 shall be due and
payable by July 1, 1983. Beginning with January 1984, all annual reports,
fees, and franchise taxes shall be due and payable prior to the first day
of the anniversary month or, in the case of a corporation which has
established an extended filing month subsequent to January 1, 1991, the
extended filing month of each corporation each year. If the annual
franchise tax due from any corporation subject to the provisions of this
Act together with all penalties and interest imposed thereon, shall not be
paid to the Secretary of State before the date of the year in which such
tax is due and payable, the Secretary of State shall proceed under Section
12.40 of this Act for the dissolution of a domestic corporation or under
Section 13.55 for revocation of a foreign corporation.
(d) For the purpose of enforcing collection, all annual franchise taxes
payable in accordance with this Act, and all penalties due thereon and all
interest and costs that shall accrue in connection with the collection thereof,
shall be a prior and first lien on the real and personal property of the
corporation from and including the date of the year when such franchise
taxes become due and payable until such taxes, penalties, interest, and
costs shall have been paid.
(Source: P.A. 93-59, eff. 7-1-03.)
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