215 ILCS 5/444.1
2021 Illinois Compiled Statutes|Chapter 215 - INSURANCE|215 ILCS 5/ - Illinois Insurance Code.|Article XXVIII - Final Provisions

 (from Ch. 73, par. 1056.1)Sec. 444.1. Payment of retaliatory taxes.(1) Every foreign or alien  company doing insurance business in this State shall pay the Director the  retaliatory tax determined in accordance with Section 444.(2) (a) All companies subject to the provisions of this Section shall  make an  annual return for the preceding calendar year on or before March 15 setting  forth such information on such forms as the Director may reasonably require.  Payments of quarterly installments of the taxpayer's total estimated  retaliatory tax for the current calendar year shall be due on or before April  15, June 15, September 15, and December 15 of such year, except that all  companies  transacting insurance business in this State whose annual tax for the  immediately  preceding calendar year was less than $5,000 shall make only an annual  return.  Failure of a company to make the annual payment, or to make the  quarterly payments, if required, of at least one-fourth of either (i) the total  tax paid during the previous calendar year or (ii) 80% of the actual tax for  the current calendar year shall subject it to the penalty provisions set forth  in Section 412 of this Code.(b) Notwithstanding the foregoing provisions of paragraph (a) of this  subsection, the retaliatory tax liability of companies under Section 444 of  this Code for the calendar year ended December 31, 1997 shall be  determined in accordance with this amendatory Act of 1998 and shall include in  the aggregate comparative tax burden for the State of Illinois, any tax offset  allowed under Section 531.13 of this Code and any income  taxes paid for the year 1997 under subsections (a) through (d) of Section 201  of the Illinois Income Tax Act after any tax offset allowed under Section  531.13 of this Code.(i) Any annual retaliatory tax returns and payments     made for the year ended December 31, 1997 and any quarterly installments of the taxpayer's total estimated 1998 retaliatory tax liability paid prior to the effective date of this Amendatory Act of 1998 that do not include the items specified by subsection (1) of this Section shall be amended and restated, at the taxpayer's election, on forms prepared by the Director so as to provide for the inclusion of such items. An amended and restated return for the year ended December 31, 1997 filed under this subparagraph shall treat any payment of estimated privilege taxes under Section 409 as in effect prior to October 23, 1997 as a payment of estimated retaliatory taxes for the year ended December 31, 1997.(ii) Any overpayment resulting from such amended     return and restated tax liability shall be allowed as a credit against any subsequent privilege or retaliatory tax obligations of the taxpayer.(iii) In the year 1999 and thereafter all companies     shall make annual and quarterly installments of their estimated tax as provided by paragraph (a) of this subsection.(3) Any tax payment made under this Section and any tax returns prepared  in compliance with Section 410 shall give full consideration to the impact  of any future reduction in or elimination of a taxpayer's liability under  Section 409, whether such reduction or elimination is due to an operation  of law or an Act of the General Assembly.(4) Any foreign or alien taxpayer who makes, under protest, a tax payment  required by Section 409 shall, at the time of payment, file a retaliatory  tax return sufficient to disclose the full amount of retaliatory taxes which  would be due and owing for the tax period in question if the protest were  upheld.  Notwithstanding the provisions of the State Officers and Employees  Money Disposition Act or any other laws of this State, the protested  payment, to the extent of the retaliatory tax so disclosed, shall be deposited  directly in the General Revenue Fund; and the balance of the payment, if  any, shall be deposited in a protest account pursuant to the provisions  of the aforesaid Act, as now or hereafter amended.(5) The failure of a company to make the annual payment or to make the  quarterly payments, if required,  of at least one-fourth of either (i) the total tax paid  during the preceding  calendar year or (ii) 80% of the actual tax for the current calendar  year shall subject it to the penalty provisions set forth in Section  412 of this Code.(6) This Section is subject to the provisions of Section 10 of the New Markets Development Program Act. (Source: P.A. 95-1024, eff. 12-31-08.)