(b) Any retailer required to make payments under this Section
may make the payments by electronic funds transfer. The Department
shall adopt rules necessary to effectuate a program of electronic
funds transfer.
Any retailer who has average monthly tax billings due to the Department under
this Act and the Telecommunications Excise Tax Act that exceed $1,000 shall
make all payments by electronic funds transfer as required by rules of the
Department.
(c) If the retailer's average monthly tax billings due to the
Department under this Act and the Telecommunications Excise Tax Act do
not exceed $1,000, the Department may authorize such retailer's returns
to be filed on a quarter-annual basis, with the return for January,
February, and March of a given year being due by April 30th of that
year; with the return for April, May, and June of a given year being
due by July 31st of that year; with the return for July, August, and
September of a given year being due by October 31st of that year;
and with the return for October, November, and December of a given year
being due by January 31st of the following year.
(d) If the retailer is otherwise required to file a monthly or
quarterly return and if the retailer's average monthly tax billings
due to the Department under this Act and the Telecommunications Excise
Tax Act do not exceed $400, the Department may authorize such
retailer's return to be filed on an annual basis, with the return for
a given year being due by January 31st of the following year.
(e) Each retailer whose average monthly remittance to the
Department under this Act and the Telecommunications Excise Tax Act
was $25,000 or more during the preceding calendar year, excluding the
month of highest remittance and the month of lowest remittance in such
calendar year, and who is not operated by a unit of local government,
shall make estimated payments to the Department on or before the 7th,
15th, 22nd, and last day of the month during which the tax remittance
is owed to the Department in an amount not less than the lower of
either 22.5% of the retailer's actual tax collections for the month
or 25% of the retailer's actual tax collections for the same
calendar month of the preceding year. The amount of such quarter-monthly
payments shall be credited against the final remittance of the
retailer's return for that month. Any outstanding credit, approved by
the Department, arising from the retailer's overpayment of its final
remittance for any month may be applied to reduce the amount of any
subsequent quarter-monthly payment or credited against the final
remittance of the retailer's return for any subsequent month. If any
quarter-monthly payment is not paid at the time or in the amount
required by this Section, the retailer shall be liable for penalty and
interest on the
difference between the minimum amount due as a payment
and the amount of such payment actually and timely paid, except
insofar as the retailer has previously made payments for
that month to
the Department or received credits in excess of the minimum payments previously
due.
(f) Notwithstanding any other provision of this Section
containing the time within which a retailer may file his or her return, in
the case of any retailer who ceases to engage in a kind of business
that makes him or her responsible for filing returns under this
Section, the retailer shall file a final return under this Section
with the Department not more than one month after discontinuing such
business.
(g) In making such return, the retailer shall determine the
value of any consideration other than money received by it and such
retailer shall include the value in its return. Such determination
shall be subject to review and revision by the Department in the
manner hereinafter provided for the correction of returns.
(h) Any retailer who has average monthly tax billings due to the Department
under this Act and the Telecommunications Excise Tax Act that exceed $1,000
shall file the return required by this Section by electronic means as required
by rules of the Department.
(i) The retailer filing the return herein provided for shall, at the time of
filing the return, pay to the Department the amounts due pursuant to this Act.
The Department shall immediately pay over to the State Treasurer, ex officio,
as trustee, 99.5% of all taxes, penalties, and interest collected hereunder for
deposit into the Municipal Telecommunications Fund, which is hereby created.
The remaining 0.5% received by the Department pursuant to this Act shall be
deposited into the Tax Compliance and Administration Fund and shall be used by
the Department, subject to appropriation, to cover the costs of the Department.
On or before the 25th day of each calendar month, the Department shall
prepare and certify to the Comptroller the disbursement of stated sums of money
to be paid to named municipalities from the Municipal Telecommunications Fund
for amounts collected during the second preceding calendar month. The named
municipalities shall be those municipalities identified by a retailer in such
retailer's return as having imposed the tax authorized by the Act. The amount
of money to be paid to each municipality shall be the amount (not including
credit memoranda) collected hereunder during the second preceding calendar
month by the Department, plus an amount the Department determines is necessary
to offset any amounts that were erroneously paid to a
different taxing body, and not including an amount equal to the amount of
refunds made during the second preceding calendar month by the Department on
behalf of such municipality, and not including any amount that the Department
determines is necessary to offset any amount that were payable to a different
taxing body but were erroneously paid to the municipality. Within 10 days
after receipt by the Comptroller of the disbursement certification from the
Department, the Comptroller shall cause the orders to be drawn for the
respective amounts in accordance with the directions contained in the
certification. When certifying to the Comptroller the amount of a monthly
disbursement to a municipality under this Section, the Department shall
increase or decrease the amount by an amount necessary to offset any
misallocation of previous disbursements. The offset amount shall be the
amount erroneously disbursed within the previous 6 months from the time a
misallocation is discovered.
(j) For municipalities with populations of less than 500,000,
whenever the Department determines that a refund shall be made under
this Section to a claimant instead of issuing a credit memorandum, the
Department shall notify the State Comptroller, who shall cause the
order to be drawn for the amount specified and to the person named in
the notification from the Department. The refund shall be paid by the
State Treasurer out of the Municipal Telecommunications Fund.
(Source: P.A. 95-331, eff. 8-21-07.)
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