reglab/statecodes huggingface dataset:
Illinois Administrative Code › Title 86 - REVENUE › Part 107 - TELEFILING OF ILLINOIS INDIVIDUAL INCOME TAX RETURNS › Section 107.300 - Balance Due General Information

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 The TeleFile Filer is responsible for submitting payment of any balance due the
			 Department no later than April 15 of the filing year or any other filing date
			 designated by the Department in its booklets or on its website. (See
			 35 ILCS
			 5/601.) Failure to make full payment by this date will
			 result in the imposition of interest and penalties. (See 35 ILCS 735/3-2 and 3
			 -3.)
b) The TeleFile Filer may
			 choose to pay the balance due by credit card. The TeleFile Filer may call a
			 designated telephone number provided in the IL-1040 booklet to make such
			 payment after completion of the TeleFile filing process. The TeleFile Filer is
			 responsible for payment of any fee charged in order to make payment in this
			 manner. Pursuant to
			 35 ILCS
			 5/605, the Department of Revenue will not pay any
			 discount fee charged by the credit card issuer.
Illinois Administrative Code › Title 86 - REVENUE › Part 107 - TELEFILING OF ILLINOIS INDIVIDUAL INCOME TAX RETURNS › Section 107.310 - Direct Deposit General Information

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Qualifying taxpayers may authorize their tax overpayments to be directly
			 deposited into their savings or checking accounts with financial institutions,
			 rather than receive paper refund checks. The authorization must be made when
			 filing the TeleFile IL-1040 return by providing the appropriate
			 information.
b) The Department will
			 ordinarily process an authorization for direct deposit, but reserves the right
			 to initiate a paper refund check. The following conditions may cause the
			 Department to not process a direct deposit:
1) Taxpayer owes back taxes, either
			 individual or business (refund offset);
2) Taxpayer has State or federal delinquent
			 debt, such as child support, student loans, etc. (refund offset);
3) Estimated tax payments reported on the
			 return do not match the estimated tax payments recorded on the Department's
			 master file;
4) Taxpayer is
			 claiming an unallowable or improperly supported deduction or credit;
			 and
5) A TeleFile return, form or
			 schedule is accepted with a valid social security number that belongs to
			 another taxpayer.
Illinois Administrative Code › Title 86 - REVENUE › Part 107 - TELEFILING OF ILLINOIS INDIVIDUAL INCOME TAX RETURNS › Section 107.400 - Confirmation of TeleFile Returns

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Upon successfully entering all the required return, form or schedule
			 information using the number keys on a touch-tone telephone, the TeleFile Filer
			 will be given a confirmation number by the automated voice prompt
			 system.
b) TeleFile Filers must
			 maintain a record of the confirmation number in order to establish that the
			 returns, forms or schedules were received by the Department on the dates that
			 the confirmation numbers were issued.
c) The date that the telephone call is
			 completed and a confirmation number is issued by the automated voice prompt
			 system is the received date for the return to which the confirmation number
			 relates. Where a telephone call is initiated on one date and completed on
			 another, the date that the telephone call is completed is the date of filing.
			 The telephone call must be completed by 11:59 p.m. CST (with adjustments for
			 Daylight Savings Time if applicable) on the due date of the return for the
			 TeleFile filing to be considered timely.
d) TeleFile Filers cannot recall or intercept
			 TeleFile filed returns after the returns have been confirmed as received. If
			 TeleFile Filers wish to change any entries after a return has been confirmed, a
			 paper amended return, Form IL-1040-X, must be filed with the Department. (See
			 also 86 Ill. Adm. Code
			 100.9400(f)(3).)
e) When a TeleFile return has not been
			 confirmed after several attempts, the TeleFile Filer should contact the
			 Department for assistance by calling the telephone number provided in the
			 IL-1040 booklet.
f) Unless a
			 TeleFile return is confirmed as filed by the Department, it will not be
			 considered a filed return.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.101 - Railroads

Current through Register Vol. 48, No. 28, July 12, 2024
a) All companies,
			 corporations or associations owning, operating or constructing a railroad, a
			 suburban or interurban railroad, a switching or terminal railroad, a railroad
			 station or a railroad bridge in this State shall make a return of property on
			 Form Nos. PTAX-501 through PTAX-513 and PTAX-531 through PTAX-537. Operating
			 companies shall return all railroad property which they use exclusively whether
			 owned by subsidiaries, leased lines or others, and they shall also list jointly
			 used and owned property in which they have preponderant interest. Joint
			 facilities in which interests are equal shall be listed by only one of the
			 using companies. Companies which do not engage in railroad operations, but
			 merely hold title to railroad property, shall return all such property used
			 jointly by others. Owning companies shall make sure that users list all
			 property as required by this Regulation.
b) Companies, corporations or associations
			 with Class II through Class IV railroad operations shall return the results of
			 railroad operations, detailed information for joint facilities and depreciation
			 expenses, road and equipment property and railroad operating statistics on Form
			 Nos. PTAX-520-A through PTAX-523. Information collected on the forms shall be
			 similar to that collected on portions of returns made for Class I railroad
			 operations on the federal R-1 annual report to the Interstate Commerce
			 Commission or its successor agency. Class I through Class IV railroads shall be
			 those classes as defined by the Interstate Commerce Commission or its successor
			 agency.
c) Legal Description. All
			 railroad companies shall file periodically with the Department and with county
			 clerks the location and legal description of their right of way, track,
			 improvements, trackage rights, operating property off the right of way and
			 non-carrier real estate in Illinois on Schedules R-1 to R-7b inclusive. Except
			 as otherwise may be ordered by the Department, this requirement shall be
			 fulfilled by the annual substitution of revised and corrected sheets for those
			 pages made obsolete by changes in the right of way.
d) Form Nos. PTAX-501 through PTAX-513,
			 PTAX-520-A through PTAX-523 and PTAX-531 through PTAX-537 and Schedules R-1 to
			 R-7b shall be filed annually with the Department at its Springfield office
			 between the 1st day of April and the 1st day of June. If a railroad company
			 fails to timely file documents required under this Section the Department shall
			 assess the property of the railroad company according to the Department's best
			 information and judgment at 33 1/3 percent of the property's fair cash value
			 and may add to that valuation an amount equal to 50 percent of its valuation in
			 accordance with Section 11-115 of the Property Tax Code [35 ILCS
			 200/11-115 ].
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.105 - Non-carrier Real Estate of Railroads

Current through Register Vol. 48, No. 28, July 12, 2024
When the railroad returns required under Section
				110.101
				of this Part have been filed, the Department shall transmit to the Chief County
				Assessment Officers copies of Form Nos. PTAX-536 and PTAX-537 which list the
				"non-carrier real estate" as defined in Section 11-70 of the Property Tax Code
				[35 ILCS
				200/11-70 ]. If such assessment officials have reason
				to believe that the items of property set forth in these Schedules do not
				include all "non-carrier real estate" of the reporting carrier located within
				their jurisdiction, they shall, within 30 days from the date of transmittal by
				the Department, object to the classification adopted by the reporting railroad.
				Their objection shall be filed with the Department and it shall set forth the
				location and nature of the property alleged to be classified improperly and the
				basis for the allegation. The Department thereupon shall consider the facts
				presented and, if necessary, request additional information from the Chief
				County Assessment Officer or the railroad or both. Within 60 days after
				receiving the objection, the Department shall determine whether the property is
				"non-carrier real estate" or "operating property" and notify the local
				assessment officers and the reporting carrier of its decision. An application
				for hearing shall be made in the time and manner provided by Section 8-35 of
				the Property Tax Code [35 ILCS
				200/8-35 ]. Non-carrier real estate which includes
				improvements owned by lessees shall be listed in the railroad books as property
				of the railroad.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.113 - Fraternal Organization Assessment Freeze

Current through Register Vol. 48, No. 28, July 12, 2024
a) Eligibility
1) Section 10-355 of the Property Tax Code
			 [35 ILCS
			 200/10-355 ] provides that, for taxable year 2002 and
			 thereafter, a fraternal organization, or its subordinate organization or
			 entity, may apply for a Fraternal Organization Assessment Freeze on property it
			 owns and uses, provided that it satisfies all of the following requirements in
			 either Group A or Group B:
A) Group A
i) was chartered in the State of Illinois in
			 February 1898;
ii) is an exempt
			 entity under section 501(c)(8) of the Internal Revenue Code (
			 26 USC
			 501(c)(8) ); and
iii) has members who provide direct or
			 indirect financial support for charitable works, such as medical care, drug
			 rehabilitation, or education.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.115 - Non-Homestead Exemption Proceedings

Current through Register Vol. 48, No. 28, July 12, 2024
a) Contents of exemption application
An application form for a non-homestead property tax exemption
				shall be obtained from the Board of Review or Board of Appeals in the county in
				which the property is located. The applicant shall use the appropriate
				application form (Form No. PTAX-300-R (religious), PTAX-300-FS (federal or
				State agency) or PTAX-300 (all other property)), shall answer all questions on
				the form completely and shall sign the form.
1) The applicant shall attach all required
			 documentation to the application form, including, at a minimum, copies of the
			 following:
A) For all exemption application
			 forms:
i) Proof of ownership;
ii) lease(s) or contract(s) concerning the
			 property;
iii) legal description of
			 the property;
iv) parcel index
			 number; and
v) if the exemption
			 would reduce the property's assessed valuation by more than $100,000, copies of
			 the letters the applicant sent notifying affected municipalities, school
			 districts and community college districts of the application.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.116 - Charitable Exemption Eligibility: Low Income Housing Projects

Current through Register Vol. 48, No. 28, July 12, 2024
a) The legislature
			 has expressly determined that property otherwise qualifying for an exemption
			 under the charitable exemption Section of the Illinois Property Tax Code shall
			 not lose its exemption because the legal title is held:
1) by an entity that is organized solely to
			 hold that title and that qualifies under paragraph (2) of section 501(c) of the
			 Internal Revenue Code or its successor, whether or not that entity receives
			 rent from the charitable organization for the repair and maintenance of the
			 property;
2) by an entity that is
			 organized as a partnership or limited liability company, in which the
			 charitable organization, or an affiliate or subsidiary of the charitable
			 organization, is a general partner of the partnership or managing member of the
			 limited liability company, for the purposes of owning and operating a
			 residential rental property that has received an allocation of Low Income
			 Housing Tax Credits for 100% of the dwelling units under section 42 of the
			 Internal Revenue Code of 1986 as amended; or
3) for any assessment year including and
			 subsequent to January 1, 1996 for which an application for exemption has been
			 filed and a decision on which has not become final and nonappealable, by a
			 limited liability company organized under the Limited Liability Company Act
			 provided that:
A) the limited liability
			 company's sole member or members, as that term is used in Section 1-5 of the
			 Limited Liability Company Act, are the institutions of public charity that
			 actually and exclusively use the property for charitable and beneficent
			 purposes;
B) the limited liability
			 company is a disregarded entity for federal and Illinois income tax purposes
			 and, as a result, the limited liability company is deemed exempt from income
			 tax liability by virtue of the Internal Revenue Code section 501(c)(3) status
			 of its sole member or members; and
C) the limited liability company does not
			 lease the property or otherwise use it with a view to profit. [35 ILCS 15
			 -65]
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.120 - Oil Right Lessees and Producers

Current through Register Vol. 48, No. 28, July 12, 2024
a) Every lessee corporation, individual or
			 unincorporated business which leases oil or natural gas rights or which
			 operates oil-producing or natural gas-producing properties in Illinois shall
			 make return of the real property connected with such lease or the property it
			 operates on Form No. PTAX-186.
b)
			 Form No. PTAX-186 shall be filed annually with the Chief County Assessment
			 Officer between the 1st day of April and the 1st day of June.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.125 - Reports to be Filed with the Department

Current through Register Vol. 48, No. 28, July 12, 2024
a) County Clerks shall transmit annually to
			 the Department the following statements within 30 days after the date when the
			 collector's books are completed:
1) Summary
			 abstracts of valuations, levies, rates and extensions of taxes in their
			 respective counties on Form No. PTAX-250.
2) Abstracts of valuation, levies, rates and
			 extensions of taxes for tax districts in their respective counties on Form Nos.
			 PTAX-251, PTAX-252, PTAX-253 and PTAX-254.
3) Abstract of aggregate tax increment
			 equalized assessed valuation (current EAV less the initial EAV of the area),
			 rates, extensions, initial equalized assessed valuation, tax increment
			 financing extension that is based on parcel by parcel distribution and names of
			 taxing districts in Tax Increment Allocation Financing Redevelopment Project
			 Area, on Form No. PTAX-251-TIF.
4)
			 Abstracts of abatements, number and types of parcels and taxing districts for
			 general abatements of taxes on Form No. PTAX-255-TA.
5) Abstracts of valuations removed from rate
			 calculation, rates, amounts of taxes abated, number and types of parcels and
			 taxing districts for enterprise zones on Form No. PTAX-255-EZA.
6) Report of the names of new taxing
			 districts in the county, the name of the home county for each new taxing
			 district and the names of any overlapping counties for each new district on
			 Form No. PTAX-256.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.135 - Review of Assessments - Counties of 3,000,000 or More

Current through Register Vol. 48, No. 28, July 12, 2024
a) In counties having 3,000,000 or more
			 inhabitants, upon the completion of the valuations and assessments of all
			 parcels of land and improvements thereon, in each town or taxing district, and
			 before the revision thereof, such valuations and assessments shall be tabulated
			 and abstracted by sections, divisions, subdivisions and such other convenient
			 units of area as may be practicable in each town or taxing district. Such
			 abstract shall include the following information concerning each individual
			 parcel of land and the improvements thereon:
1) Volume, page and line of assessment
			 book;
2) property index
			 number;
3) address of
			 property;
4) dimensions of lot or
			 land;
5) legal description
			 appearing in assessment books;
6)
			 valuation of land;
7) valuation of
			 improvements;
8) total valuation of
			 land and improvements;
9)
			 assessment of land;
10) assessment
			 of improvements.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.140 - Board of Review Procedures and Records - Counties of Less than 3,000,000

Current through Register Vol. 48, No. 28, July 12, 2024
a) In all counties
			 of the State having a population of less than 3,000,000: Boards of Review shall
			 accept complaints on real estate assessments, draw certificates of error,
			 notify parties of hearings to be held, record their proceedings and docket all
			 cases on forms prescribed by the Department.
1) All Boards of Review shall provide
			 complainants with, and shall require that objections on real estate assessments
			 be filed on Form No. PTAX-230.
2)
			 All complaints shall be made in duplicate. The Board shall retain the original
			 and shall forward the copy to the Assessor or Chief County Assessment Officer
			 who certified the assessment.
3) In
			 all cases where a change of assessed valuation of $100,000 or more is sought,
			 the Board of Review shall also serve a copy of the petition on all taxing
			 districts as shown on the last available tax bill at least 14 days prior to the
			 hearing on the complaint.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.150 - Records Reproduction

Current through Register Vol. 48, No. 28, July 12, 2024
Any person who requests the reproduction of any public record
				from the Department shall secure the copy or copies requested at the following
				estimated cost of reproduction:
a)
			 Each public record will be reproduced with the Department's equipment for a fee
			 of $1.00 for the first page and $0.50 per additional page when the pages do not
			 exceed legal size.
b) The same
			 price will be charged for copies that are mailed, faxed or picked up.
c) Printed or frequently duplicated documents
			 may be available from the Department for a unit fee that may be less than the
			 rate per page in subsection (a) above.
d) Each public record will be reproduced with
			 the Department's equipment for the estimated cost to the Department when the
			 page exceeds legal size.
e) Each
			 public record which requires reproduction on equipment other than the
			 Department's will be reproduced for the actual cost to the
			 Department.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.155 - Course and Examination Requirements for Board of Review Members

Current through Register Vol. 48, No. 28, July 12, 2024
a) Scope
1) This Section applies to all counties
			 except St. Clair County, which elects a Board of Review under Section 6-35 of
			 the Property Tax Code [35 ILCS
			 200/6-35 ] and has no course or examination
			 requirements.
2) In order to be
			 eligible to serve as a Board of Review member, interested persons must fulfill
			 the appropriate course and examination requirements specified in subsections
			 (b) and (d) of this Section based on the eligibility requirements set forth in
			 Article 6 of the Property Tax Code [35 ILCS 200 /Art. 6] (see Public Act
			 90-552, effective January 1, 1999).
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.180 - Supervisor of Assessments Examination

Current through Register Vol. 48, No. 28, July 12, 2024
a) Section 3-5 of the Property Tax Code
			 [35 ILCS
			 200/3-5 ] requires, in addition to certain designation
			 and experience criteria, that in order to be eligible for appointment or
			 election to the office of Supervisor of Assessments a person must pass an
			 examination conducted by the Department to determine his or her competence to
			 hold office. Eligibility must be met to be appointed, to file nomination
			 papers, to be a candidate in a primary or general election, to be elected and
			 to assume office.
b) A person may
			 take the Supervisor of Assessments examination in any county where it is given,
			 and the results shall be valid in any county throughout the State.
c) County Examination Requests in Counties
			 that Appoint a Supervisor of Assessments: If the presiding officer of the
			 County Board intends to appoint a person to be Supervisor of Assessments who
			 has not passed the Supervisor of Assessments examination within the requisite
			 time, an examination administered by the Department shall be requested by the
			 presiding officer of the County Board at least 21 days before an appointment is
			 to be made. Before requesting that a Supervisor of Assessments examination be
			 administered in a county that appoints a Supervisor of Assessments, one of the
			 three following criteria must be met:
1) The
			 current Supervisor of Assessments has died or submitted a resignation with an
			 effective date.
2) The County Board
			 has voted to dismiss the current Supervisor of Assessments for misfeasance,
			 malfeasance or nonfeasance. In this case, the examination will be given after
			 the 21 day dismissal appeal period if no hearing is requested by the current
			 Supervisor of Assessments. If a hearing is requested by the current Supervisor
			 of Assessments pursuant to
			 35 ILCS
			 200/3-10, the examination will be scheduled only after
			 the hearing and a final vote to dismiss the current Supervisor of
			 Assessments.
3) The presiding
			 officer of the County Board has notified the current Supervisor of Assessments
			 within 90 to 120 days prior to the expiration of his term that the presiding
			 officer does not intend to reappoint the Supervisor of Assessments.
Illinois Administrative Code › Title 86 - REVENUE › Part 110 - LEVELING THE PLAYING FIELD FOR ILLINOIS RETAIL ACT › Section 110.190 - Property Tax Extension Limitation

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 New Property
1) New property as defined in
			 Section 18-185 of the Property Tax Code [35 ILCS
			 200/18-185 ] includes only:
A) New improvements or additions to existing
			 improvements on any parcel of real property that increased the assessed value
			 of that real property during the levy year. It does not include maintenance and
			 repair. The amount of value shall be limited to the actual value added by the
			 new improvement, and
B) property
			 that was exempt for any portion of the prior year and reclassified and assessed
			 as non-exempt for the levy year.
Illinois Administrative Code › Title 86 - REVENUE › Part 120 - REAL ESTATE TRANSFER TAX › Section 120.10 - Procedures for Revenue Stamp Sales to Counties

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Department of Revenue shall issue
			 Revenue Stamps resembling postage-type stamps in the denominations of $0.25 to
			 $50,000.
b) Recorders of deeds and
			 registrars of titles are hereby authorized to dispense Revenue Stamps by single
			 stamp imprints produced by approved stamping machines. Meter settings for
			 stamping machines shall be set by the Department of Revenue.
c) Sales of postage-type stamps will be
			 conducted at the Department of Revenue in Springfield only. Meter settings for
			 single stamp imprints produced by approved stamping machines will be conducted
			 at the Department of Revenue's distribution centers in Chicago, Springfield,
			 and District Offices.
d) The
			 Department of Revenue provides two options for purchasing Revenue Stamps:
1) Option 1 - State Tax Only:
Option 1 represents State tax only. Revenue Stamps and meter
				settings are purchased at full value and affixed at the rate of $.50 per $500
				value or fraction thereof.
2) Option 2 - State/County Tax:
Option 2 represents payment of State and county tax. Revenue
				Stamps and meter settings are purchased at 662/3% of face value and affixed at
				the rate of $.75 per $500 value or fraction thereof. Revenue Stamps are coded
				with the county name. On and after June 1, 2004, the recorder shall write or
				stamp in indelible ink or perforate using a machine or punch to mark Revenue
				Stamps or any transferring document that is recorded so as to denote any
				instances in which a transfer is not subject to the county
				tax.
3) Any county wishing
			 to change from the option it originally selected must request approval from the
			 Department of Revenue at least 30 days prior to the desired effective date of
			 the change.
4) Electronic Revenue
			 Stamp or Alternative Indicia
Recorders of deeds or registrars of titles using an electronic
				Revenue Stamp or alternative indicia to issue Revenue Stamps electronically,
				when the Department of Revenue is reimbursed on a monthly basis, shall utilize
				the Department of Revenue's electronic reporting system or an approved
				interface with the Department of Revenue.
Illinois Administrative Code › Title 86 - REVENUE › Part 120 - REAL ESTATE TRANSFER TAX › Section 120.20 - Legal and Technical Interpretations

Current through Register Vol. 48, No. 28, July 12, 2024
a) Taxable Transactions.
1) Transfers of title to real estate located
			 in Illinois are subject to the provisions of the Real Estate Transfer Tax Law
			 [35 ILCS 200 /Art. 31](Law).
2)
			 Transfers of a beneficial interest in real property located in Illinois are
			 subject to the provisions of the Law, including:
A) the beneficial interest in an Illinois
			 land trust;
B) the lessee interest
			 in a ground lease (including any interest of the lessee in the related
			 improvements) that provides for a term of 30 or more years when all options to
			 renew or extend are included, whether or not any portion of the term has
			 expired;
C) the indirect interest
			 in real property as reflected by a controlling interest in a real estate
			 entity:
i) EXAMPLE 1: Shareholder A and
			 Shareholder B together own all 100 shares of the outstanding stock of
			 Corporation X. Shareholder A owns 90 shares and Shareholder B owns 10 shares.
			 Corporation X owns 60 percent of the stock of Corporation Y. Corporation Y's
			 sole asset is real property in Illinois. Shareholder A transfers all of the
			 stock in Corporation X to Shareholder B. There has been a transfer of a
			 controlling interest in a real estate entity (e.g., the 90 percent interest in
			 Corporation X multiplied by the 60 percent interest in Corporation Y equals the
			 54 percent interest Shareholder A had in Corporation Y);
ii) EXAMPLE 2: Shareholder A and Shareholder
			 B together own all 100 shares of the outstanding stock of Corporation X.
			 Shareholder A owns 90 shares and Shareholder B owns 10 shares. Corporation X
			 owns 50 percent of the stock of Corporation Y. Corporation Y's sole asset is
			 real property in Illinois. Shareholder A transfers all of the stock in
			 Corporation X to Shareholder B. There has not been a transfer of a controlling
			 interest in a real estate entity (e.g., the 90 percent interest in Corporation
			 X multiplied by the 50 percent interest in Corporation Y equals the 45 percent
			 interest Shareholder A had in Corporation Y); and
D) any other type of interest with the right
			 to use or occupy real property, or the right to receive income from real
			 property such as air rights, air space rights, cooperative housing rights,
			 condominium rights, development rights, easements, mining rights, royalty
			 interests, timber rights, and timeshare rights.
3) All such transfers are presumed taxable
			 unless the person liable for the payment of the tax qualifies for an exemption
			 and makes such a notation on the transferring document filed with the
			 county.
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.100 - Nature of the Tax

Current through Register Vol. 48, No. 28, July 12, 2024
a) The Rental
			 Purchase Agreement Occupation and Use Tax Act [35 ILCS 180 ] ("Act") contains
			 two taxes.
1) The Rental Purchase Agreement
			 Occupation Tax imposes a tax upon persons engaged in this State in the business
			 of renting merchandise under a rental-purchase agreement in Illinois at the
			 rate of 6.25 % of the gross receipts received from the business. [35 ILCS
			 180/10]
2) The Rental Purchase Agreement Use Tax
			 imposes a tax upon the privilege of using, in this State, merchandise which is
			 rented from a merchant at the rate of 6.25% of the rental price paid to the
			 merchant under any rental purchase agreement. [35 ILCS
			 180/15]
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.105 - Definitions

Current through Register Vol. 48, No. 28, July 12, 2024
"Act" means the Rental Purchase Agreement Occupation and Use
				Tax Act [35 ILCS 180 ].
"Consumer" means an individual who leases personal
				property under a rental-purchase agreement.
"Department" means the Department of
				Revenue.
"Gross receipts" from the renting of tangible personal
				property or "rent" means the total rental price or leasing price. "Gross
				receipts" does not include receipts received by a merchant for delivery fees,
				reinstatement fees, processing fees, waiver fees or club program
				fees.
"Merchandise" means the personal property that is the
				subject of a rental-purchase agreement.
"Merchant" means a person who, in the ordinary course
				of business, regularly leases, offers to lease or arranges for the leasing of
				merchandise under a rental-purchase agreement, and includes a person who is
				assigned an interest in a rental-purchase agreement.
"Person" means any natural individual, firm,
				partnership, association, joint stock company, joint adventure, public or
				private corporation, limited liability company, or a receiver, executor,
				trustee, conservator or other representative appointed by order of any
				court.
"Rental price" means the consideration for renting
				merchandise valued in money, whether received in money or otherwise, including
				cash credits, property and services, and shall be determined without any
				deduction on account of the cost of the property rented, the cost of materials
				used, labor or service cost, or any other expense whatsoever, but does not
				include charges that are added by a merchant on account of the merchant's tax
				liability under this Act or on account of the merchant's duty to collect, from
				the consumer, the tax that is imposed by Section 15 of
the
Act. The phrase "rental price" does not include compensation paid to a
				merchant by a consumer in consideration of the waiver by the merchant of any
				right of action or claim against the consumer for loss or damage to the
				merchandise rented and also does not include a separately stated charge for
				insurance or other separately stated charges that are not for the use of
				tangible personal property.
"Rental purchase agreement" means an agreement for the
				use of merchandise by a consumer for personal, family, or household purposes
				for an initial period of 4 months or less that is automatically renewable with
				each payment after the initial period and that permits the consumer to become
				the owner of the merchandise.
"Renting" means any transfer of the possession or right
				to possession of merchandise to a user for a valuable consideration under a
				rental-purchase agreement.
[35 ILCS 180/5
				]
"RPOT" means the Rental Purchase Agreement Occupation Tax
				[35 ILCS
				180/10] .
"RPUT" means Rental Purchase Agreement Use Tax [35 ILCS
				180/15] .
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.110 - Taxes Imposed

Current through Register Vol. 48, No. 28, July 12, 2024
a) Rental
			 Purchase Agreement Occupation Tax
1) Beginning
			 January 1, 2018, the RPOT
is imposed upon persons engaged in this State
			 in the business of renting merchandise under a rental-purchase agreement in
			 Illinois at the rate of 6.25 % of the gross receipts received from the
			 business.
[35 ILCS 180/10]
2) In computing RPOT liability, no deductions
			 can be made by a merchant from gross receipts or rental prices on account of
			 the cost of property rented, the cost of materials used, labor or service
			 costs, incoming freight or transportation costs, overhead costs, processing
			 charges, salesmen's commissions, interest paid by the taxpayer, or any other
			 expenses whatsoever. Costs of doing business are an element of the merchant's
			 gross receipts and are subject to the RPOT even if separately stated on the
			 bill to the consumer.
3)
In
			 the case of rental transactions in which the consideration is paid to the
			 merchant on an installment basis, the amounts of such payments shall be
			 included by the merchant in gross receipts or rent only as and when payments
			 are received by the merchant.
[35 ILCS 180/5
			 ]
4) The RPOT is solely the
			 responsibility of the merchant.
5)
			 When trustees, receivers, executors, or administrators (whether appointed by a
			 Federal or a State court), by virtue of their appointment, continue to operate,
			 manage, or control a business and engage in the business of renting merchandise
			 under lease terms of 4 months or less, they are liable for the RPOT.
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.115 - Nontaxable Transactions

Current through Register Vol. 48, No. 28, July 12, 2024
The tax does not apply to rental receipts from the following
				transactions:
a) an agreement for the
			 use of tangible personal property which is required to be titled and registered
			 by a State agency [35 ILCS 180/35] ;
b) an agreement for the use of merchandise by
			 an individual for personal, family, or household purposes for an initial period
			 of more than 4 months;
c) an
			 agreement for the use of merchandise by an individual for personal, family, or
			 household purposes that is not automatically renewable;
d) an agreement for the use of merchandise by
			 an individual for personal, family, or household purposes that does not permit
			 the consumer to become the owner of the merchandise;
e) an isolated or occasional agreement for
			 the rental of merchandise; and
f)
			 transactions protected by the Commerce Clause of the United States Constitution
			 (U.S. Const. Art. 1, Sec. 8, Cl. 3). (See Section
			 150.310 Exemptions to Avoid
			 Multi-State Taxation.)
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.120 - Returns and Payment of Tax

Current through Register Vol. 48, No. 28, July 12, 2024
a) Each
			 person who is required to pay the tax imposed by the RPOT Act shall make a
			 return to the Department on or before the 20th day
			 of each month for the preceding calendar month stating the following:
1) the taxpayer's name;
2) the address of the taxpayer's principal
			 place of business and the address of the principal place of business (if that
			 is a different address) from which the taxpayer is engaged in the business of
			 renting merchandise subject to the RPOT;
3) the total amount of receipts received by
			 the taxpayer during the preceding calendar month from renting merchandise
			 subject to RPOT by the taxpayer;
4)
			 the total amount received by the taxpayer during the preceding calendar month
			 from the renting of merchandise on an installment basis subject to the RPOT by
			 the taxpayer;
5) deductions allowed
			 by the RPOT Act;
6) gross receipts
			 that were received by the taxpayer during the preceding calendar month and upon
			 the basis of which the RPOT is imposed;
7) the amount of RPOT due;
8) the signature of the taxpayer;
			 and
9) any other information as the
			 Department may request on the application form prescribed and furnished by the
			 Department.
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.125 - Registration of Merchants

Current through Register Vol. 48, No. 28, July 12, 2024
a) It shall
			 be unlawful for any merchant to engage in this State in the business of renting
			 merchandise under a rental-purchase agreement in Illinois without a certificate
			 of registration from the Department.
Every person engaged in this State
			 in the business of renting merchandise shall apply to the Department (upon a
			 form prescribed and furnished by the Department) for a certificate of
			 registration under
the RPOT
Act. The certificate of
			 registration which is issued by the Department to a retailer under the
			 Retailers' Occupation Tax Act shall permit the merchant to engage in a business
			 that is taxable under
the RPOT
Act without registering
			 separately with the Department.
[35 ILCS
			 180/10]
b) Each application shall be signed and
			 verified and shall state:
1) the name and
			 social security number of the applicant;
2) the address of the merchant's principal
			 place of business;
3) the address
			 of the place of business from which the merchant engages in the business of
			 renting merchandise in this State and the addresses of all other places of
			 business, if any (enumerating such addresses, if any, in a separate list
			 attached to and made a part of the application) from which the merchant engages
			 in the business of renting merchandise in this State;
4) the name and address of the person or
			 persons who will be responsible for filing returns and payment of taxes due
			 under the Act (see 35 ILCS 735/3-7);
5) in the case of a publicly traded
			 corporation, the name and title of the Chief Financial Officer, Chief Operating
			 Officer, and any other officer or employee with responsibility for preparing
			 tax returns under the Act; and, in the case of all other corporations, the
			 name, title, and social security number of each corporate officer;
6) in the case of a limited liability
			 company, the name, social security number, and FEIN of each manager and member;
			 and
7) any other information as the
			 Department may request on the application form prescribed and furnished by the
			 Department.
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.130 - Revocation of Certificates of Registration

Current through Register Vol. 48, No. 28, July 12, 2024
a)
The Department has the power,
			 after notice and an opportunity for a hearing, to revoke a certificate of
			 registration issued by the Department if the holder of the certificate of
			 registration fails to file a return, or to pay the tax, fee, penalty, or
			 interest shown in a filed return, or to pay any final assessment of tax, fee,
			 penalty, or interest, as required by the Act or any other tax or fee Act
			 administered by the Department.
[20 ILCS
			 2505/2505-380(a)]
b) The Department, after notice and hearing,
			 shall revoke the certificate of registration (including all sub-certificates of
			 registration, if any, issued under Section 125.125) of any merchant who
			 violates any of the provisions of the Act or this Part. Before revocation of a
			 certificate of registration, the Department shall, within 90 days after
			 non-compliance and at least 7 days prior to the date of the hearing, give the
			 merchant notice in writing of the charge against the merchant, and on the date
			 designated shall conduct a hearing upon this matter. The lapse of the 90-day
			 period shall not preclude the Department from conducting revocation proceedings
			 at a later date if necessary.
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.135 - Books and Records

Current through Register Vol. 48, No. 28, July 12, 2024
a) Every merchant
			 shall keep books and records of all rentals of merchandise, together with
			 invoices, bills of lading, sales records, copies of bills of sale, monthly
			 inventories, inventories prepared as of December 31 of each year, and other
			 pertinent papers and documents.
b)
			 All books and records and other papers and documents that are required by this
			 Section and the Act to be kept shall be kept in the English language and shall,
			 at all times during business hours of the day, be subject to inspection by the
			 Department or its duly authorized agents and employees. Records shall be
			 maintained at the physical location of the merchant.
c) Books and records and other papers
			 reflecting gross receipts received during any period with respect to which the
			 Department is authorized to issue notices of tax liability shall, for purposes
			 of this Part, be preserved until the expiration of that period unless the
			 Department, in writing, authorizes their destruction or disposal prior to that
			 expiration. The Department will not issue a notice of tax liability on and
			 after each July 1 and January 1 covering gross receipts received during any
			 month or period of time more than 3 years prior to that July 1 and January 1,
			 respectively.
d) Penalties
1) Any merchant who fails to keep books and
			 records or fails to produce books and records for examination, as required by
			 this Section, is liable to pay to the Department, for deposit into the Tax
			 Compliance and Administration Fund, a penalty of:
A) $1,000 for the first failure to keep books
			 and records or produce books and records for examination; and
B) $3,000 for each subsequent failure to keep
			 books and records or produce books and records for examination.
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.140 - Penalties and Interest

Current through Register Vol. 48, No. 28, July 12, 2024
a) All
			 provisions of the Uniform Penalty and Interest Act [35 ILCS 735 ] that are not
			 inconsistent with the Act shall apply.
b) The penalties contained in Section 13 of
			 the Retailers' Occupation Tax Act [35 ILCS 120 ] that are not inconsistent with
			 the Act shall apply.
c) The
			 penalties contained in Section 14 of the Use Tax Act [35 ILCS 105 ] that are
			 not inconsistent with the Act shall apply.
Illinois Administrative Code › Title 86 - REVENUE › Part 125 - RENTAL PURCHASE AGREEMENT OCCUPATION AND USE TAX › Section 125.145 - Administration and Enforcement

Current through Register Vol. 48, No. 28, July 12, 2024
a)
			 Rental Purchase Agreement Occupation Tax
1)
The Department shall have full power to administer and enforce
the RPOT Act
, to collect all taxes and penalties due
under the
			 RPOT Act
, to dispose of taxes and penalties so collected in the manner
			 hereinafter provided, and to determine all rights to credit memoranda, arising
			 on account of the erroneous payment of tax or penalty
under the RPOT
			 Act
. In the administration of, and compliance with,
the RPOT
			 Act
, the Department and persons who are subject to
the RPOT
			 Act
shall have the same rights, remedies, privileges, immunities,
			 powers and duties, and be subject to the same conditions, restrictions,
			 limitations, penalties and definitions of terms, and employ the same modes of
			 procedure, as are prescribed in Sections 1, 1a, 2, 2-10 through 2-65 (in
			 respect to all provisions therein other than the State rate of tax), 2a, 2b,
			 2c, 3 (except provisions relating to transaction returns), 4, 5, 5a, 5b, 5c,
			 5d, 5e, 5f, 5g, 5i, 5j, 6, 6a, 6b, 6c, 7, 8, 9, 10, 11, 11a, 12, and 13 of the
			 Retailers' Occupation Tax Act and Section 3-7 of the Uniform Penalty and
			 Interest Act as fully as if those provisions were set forth herein.
[35 ILCS
			 180/10]
2) To avoid needless repetition, the
			 substance and provisions of all Retailers' Occupation Tax regulations (86 Ill.
			 Adm. Code 130) that are not incompatible with the RPOT Act apply in
			 implementation of the RPOT Act.
Illinois Administrative Code › Title 86 - REVENUE › Part 130 - RETAILERS' OCCUPATION TAX › Subpart A - NATURE OF TAX › Section 130.105 - Responsibility of Trustees, Receivers, Executors or Administrators

Current through Register Vol. 48, No. 28, July 12, 2024
Where trustees, receivers, executors or administrators
				  (whether appointed by a Federal or a State court), by virtue of their
				  appointment, continue to operate, manage or control the business and engage in
				  the business of selling tangible personal property for use or consumption, they
				  become liable for Retailers' Occupation Tax. This principle applies
				  notwithstanding the fact that such trustees, receivers, executors or
				  administrators may be engaged in liquidating the assets of the business,
				  provided that such liquidation takes place by means of sales, and provided that
				  such sales are made for use or consumption and consist of tangible personal
				  property customarily sold by such business.
Illinois Administrative Code › Title 86 - REVENUE › Part 130 - RETAILERS' OCCUPATION TAX › Subpart A - NATURE OF TAX › Section 130.111 - Sale of Used Motor Vehicles, Aircraft, or Watercraft by Leasing or Rental Business

Current through Register Vol. 48, No. 28, July 12, 2024
a) Any
				person engaged in the business of leasing or renting motor vehicles, aircraft
				or watercraft, to others and who, in connection therewith, sells any used motor
				vehicle, aircraft or watercraft, to a purchaser or lessor for use and not for
				resale is a retailer selling tangible personal property at retail to the extent
				of the value of the vehicle, aircraft, or watercraft sold.
b) For purposes of this Section, "motor
				vehicle" has the meaning prescribed in Section 1-157 of the Illinois Vehicle
				Code [625 ILCS 5/1-157 ].
				"Motor vehicle" means a motor vehicle of the First Division, including a
				multipurpose passenger vehicle that is designed for carrying not more than 10
				persons.
c) For purposes of this
				Section, "aircraft" means any device used or designed to carry humans in flight
				as specified by the Department of Transportation by rule. (See 92 Ill. Adm.
				Code
				14.105.) All devices
				required to be licensed as "aircraft" by the Federal Aviation Administration
				(FAA) are "aircraft". [620 ILCS 5/3 ]
d) For purposes of this Section, "watercraft"
				has the meaning prescribed in Section 15-5 of the Watercraft Use Tax Law [625
				ILCS 158/15-5 ]. "Watercraft" means any watercraft 16 feet or greater in
				length, except kayaks and canoes. "Watercraft" includes any "personal
				watercraft" as defined in Section 1-2 of the Illinois Boat Registration and
				Safety Act [625 ILCS 45/1-2 ]. An
				example of a "personal watercraft" is a jet ski, regardless of its size or
				length.