805 ILCS 5/15.75
2021 Illinois Compiled Statutes|Chapter 805 - BUSINESS ORGANIZATIONS|805 ILCS 5/ - Business Corporation Act of 1983.|Article 15 - Fees, Franchise Taxes And Charges

 (from Ch. 32, par. 15.75)Sec. 15.75. Rate of franchise taxes payable by foreign corporations.(a) The annual franchise tax payable by each foreign corporation  shall be computed at the rate of 1/12 of 1/10 of 1% for each calendar month  or fraction thereof for the period commencing on the first day of July 1983  to the first day of the anniversary month in 1984, but in no event shall  the amount of the annual franchise tax be less than $2.083333 per month  based on a minimum of $25 per annum or more than $83,333.333333 per month;  commencing on January 1, 1984 to the first day of the anniversary month in  2004, the annual franchise tax payable by each foreign corporation  shall be computed at the rate of 1/10 of 1% for the 12-months' period  commencing on the first day of the anniversary month or, in the case  of  a corporation that has established an extended filing month, the extended  filing month of the corporation, but in no event shall the amount of the  annual franchise tax be less than $25 nor more than $1,000,000 per annum;  commencing on January 1, 2004, the annual franchise tax payable by each  foreign corporation shall be computed at the rate of 1/10 of 1% for the  12-month period commencing on the first day of the anniversary month or, in  the case of a corporation that has established an extended filing month, the  extended filing month of the corporation, but in no event shall the amount of  the annual franchise tax be less than $25 nor more than $2,000,000 per annum.(b) The annual franchise tax payable by each foreign corporation at the  time of filing a statement of election and interim annual report in  connection with an anniversary month prior to January, 2004 shall be  computed at the rate of 1/10 of 1% for the 12 month period commencing on  the first day of the anniversary month of the corporation next following  the filing, but in no event shall the amount of the annual franchise tax  be less than $25 nor more than $1,000,000 per annum; commencing with the  first anniversary month that occurs after December,  2003,  the annual franchise tax payable by each foreign corporation at the time of  filing a statement of election and interim annual report shall be computed  at the rate of 1/10 of 1% for the 12-month period commencing on the first day  of the anniversary month of the corporation next following such filing, but in  no event shall the amount of the annual   franchise tax be less than $25 nor more  than $2,000,000 per annum.(c) The annual franchise tax payable at the time of filing the final  transition annual report in connection with an anniversary month prior to  January, 2004 shall be an amount equal to (i) 1/12 of 1/10 of 1%  per month of the proportion of paid-in capital represented in this State as  shown in the final transition annual report multiplied by (ii) the number  of months commencing with the anniversary month next following the filing  of the statement of election until, but excluding, the second extended  filing month, less the annual franchise tax theretofore paid at the time of  filing the statement of election, but in no event shall the amount of the  annual franchise tax be less than $2.083333 per month based on a minimum of  $25 per annum or more than $83,333.333333 per month; commencing with the  first anniversary month that occurs after December,  2003,  the annual franchise tax payable at the time of filing the final transition  annual report shall be an amount equal to (i) 1/12 of 1/10 of 1% per month of  the proportion of paid-in capital represented in this State as shown in the  final transition annual report multiplied by (ii) the number of months  commencing with the anniversary month next following the filing of the  statement of election until, but excluding, the second extended filing month,  less the annual franchise tax theretofore paid at the time of filing the  statement of election, but in no event shall the amount of the annual franchise  tax be less than $2.083333 per month based on a minimum of $25 per annum or  more than $166,666.666666 per month.(d) The initial franchise tax payable after January 1, 1983, but prior  to  January 1, 1991, by each foreign corporation shall be computed at the rate  of 1/10 of 1% for the 12 months' period commencing on the first day of the  anniversary month in which the application for authority  is  filed by the  corporation under Section 13.15 of this Act, but in no event shall the  franchise tax be less than $25 nor more than $1,000,000 per annum.  Except  in the case of a foreign corporation that has begun transacting business in  Illinois prior to January 1, 1991, the initial franchise tax payable on or  after January 1, 1991, by each foreign  corporation, shall be computed at  the rate of 15/100 of 1% for the 12-month period commencing on  the first  day of the anniversary month in which the application for authority is  filed by the corporation under Section 13.15 of this Act, but  in no event  shall the franchise tax for a taxable year commencing prior to January 1,  2004 be less than $25 nor more than $1,000,000 per annum  plus 1/20 of 1% of the basis therefor  and in no event shall the franchise tax for a taxable year commencing on or  after  January 1, 2004 be less than $25 or more than $2,000,000 per annum plus 1/20 of  1% of the basis therefor.(e) Whenever the application for authority indicates  that  the corporation commenced transacting business:(1) prior to January 1, 1991, the initial franchise     tax shall be computed at the rate of 1/12 of 1/10 of 1% for each calendar month; or(2) after December 31, 1990, the initial franchise     tax shall be computed at the rate of 1/12 of 15/100 of 1% for each calendar month.(f) Each additional franchise tax payable by each foreign corporation  for the  period beginning January 1, 1983 through December 31, 1983 shall be computed  at the rate of 1/12 of 1/10 of 1% for each calendar month or fraction thereof  between the date of each respective increase in its paid-in capital  and its anniversary month in 1984; thereafter until the last day of the  month that is both after December 31, 1990 and the third month immediately  preceding the anniversary month in 1991, each additional franchise tax  payable by each foreign corporation shall be computed at the rate of 1/12  of 1/10 of 1% for each calendar month, or fraction thereof, between the  date of each respective increase in its paid-in capital and its next  anniversary month; however, if the increase occurs within the 2 month  period immediately preceding the anniversary month, the tax shall be  computed to the anniversary month of the next succeeding calendar year.  Commencing with increases in paid-in capital that occur subsequent to both  December 31, 1990 and the last day of the third month immediately preceding  the anniversary month in 1991, the additional franchise tax payable by a  foreign corporation shall be computed at the rate of 15/100 of 1%.  (Source: P.A. 98-756, eff. 7-16-14.)