[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
| [ Senate Amendment 001 ] |
90_SB0522
35 ILCS 5/601.1 from Ch. 120, par. 6-601.1
Amends the Illinois Income Tax Act by adding a Section
caption to the Section concerning payment by electronic funds
transfer.
LRB9001866KDpc
LRB9001866KDpc
1 AN ACT to amend the Illinois Income Tax Act by changing
2 Section 601.1.
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 601.1 as follows:
7 (35 ILCS 5/601.1) (from Ch. 120, par. 6-601.1)
8 Sec. 601.1. Payment by electronic funds transfer.
9 Beginning on October 1, 1993, and for all liability periods
10 thereafter, a taxpayer, other than an individual taxpayer,
11 who has an average monthly tax liability of $150,000 or more
12 under this Act shall make all payments by electronic funds
13 transfer. Beginning on October 1, 1994, and for all
14 liability periods thereafter, a taxpayer, other than an
15 individual taxpayer, who has an average monthly tax liability
16 of $100,000 or more under this Act shall make all payments by
17 electronic funds transfer. Beginning on October 1, 1995, and
18 for all liability periods thereafter, a taxpayer, other than
19 an individual taxpayer, who has an average monthly tax
20 liability of $50,000 or more under this Act shall make all
21 payments by electronic funds transfer. Any taxpayer, other
22 than an individual taxpayer, who is not required to make
23 payments by electronic funds transfer and who has a tax
24 liability under this Act, may make payments by electronic
25 funds transfer. The method of transfer shall be determined by
26 agreement between the affected taxpayer and the Department.
27 (Source: P.A. 87-1132.)