805 ILCS 5/15.80
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. 15.80)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.)