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90_HB0529
35 ILCS 5/703 from Ch. 120, par. 7-703
Amends the Illinois Income Tax Act. Makes a technical
change in the Section concerning information statements.
LRB9000521DNmb
LRB9000521DNmb
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.
9 Every employer required to deduct and withhold tax under
10 this Act from compensation of an employee, or who would have
11 been required so to deduct and withhold tax if the employee's
12 withholding exemption were not in excess of $1,000, shall
13 furnish in duplicate to each such employee in respect of the
14 compensation paid by the such employer to such employee
15 during the calendar year on or before January 31 of the
16 succeeding year, or, if his employment is terminated before
17 the close of such calendar year, on the date on which the
18 last payment of compensation is made, a written statement in
19 such form as the Department may by regulation prescribe
20 showing the amount of compensation paid by the employer to
21 the employee, the amount deducted and withheld as tax, and
22 such other information as the Department shall prescribe. A
23 copy of such statement shall be filed by the employee with
24 his return for his taxable year to which it relates (as
25 determined under section 601(b) (1).
26 (Source: P.A. 76-261.)