Illinois Administrative Code › Title 86 - REVENUE › Part 130 - RETAILERS' OCCUPATION TAX › Subpart O - CLAIMS TO RECOVER ERRONEOUSLY PAID TAX › Section 130.1505 - Disposition of Credit Memoranda by Holders Thereof

Current through Register Vol. 48, No. 28, July 12, 2024
a) Assignment of Credit Memoranda
1) Credit memoranda issued in accordance with
				the provisions of Section 6 of the Act may be assigned or transferred only
				after a request for that purpose is filed with the Department upon forms
				prescribed and furnished by it, and subject to the following conditions:
A) That the assignment is made to a person
				who is subject to the Retailers' Occupation Tax Act, the Use Tax Act, the
				Service Occupation Tax Act, the Service Use Tax Act, the Home Rule Municipal
				Retailers' Occupation Tax Act, the Non-Home Rule Municipal Retailers'
				Occupation Tax Act, the Home Rule Municipal Service Occupation Tax Act, the
				Non-Home Rule Municipal Service Occupation Tax Act, the Home Rule County
				Retailers' Occupation Tax Act, the County Supplementary Retailers' Occupation
				Tax Act, the Home Rule County Service Occupation Tax Act, Section 4 of the
				Water Commission Act of 1985, subsections (b), (c) and (d) of Section 5.01 of
				the Local Mass Transit District Act, or subsections (e), (f) and (g) of Section
				4.03 of the Regional Transportation Authority Act;
B) that there is no proceeding pending to
				establish an unpaid liability against the assignor pursuant to notice given of
				the Department's proposal to assess an amount against him either under the
				Retailers' Occupation Tax Act, the Use Tax Act, the Service Occupation Tax Act,
				the Service Use Tax Act, the Home Rule Municipal Retailers' Occupation Tax Act,
				the Non-Home Rule Municipal Retailers' Occupation Tax Act, the Home Rule
				Municipal Service Occupation Tax Act, the Non-Home Rule Municipal Service
				Occupation Tax Act, Section 4 of the Water Commission Act of 1985, subsections
				(b), (c) and (d) of Section 5.01 of the Local Mass Transit District Act, or
				subsections (e), (f) and (g) of Section 4.03 of the Regional Transportation
				Authority Act, and
C) that there is
				no established assessment or admitted liability or interest or penalty unpaid
				by the assignor, either under the Retailers' Occupation Tax Act, the Use Tax
				Act, the Service Occupation Tax Act, the Service Use Tax Act, theHome
				RuleMunicipal Retailers' Occupation Tax Act, the Non-Home Rule Municipal
				Retailers' Occupation Tax Act, the Home Rule Municipal Service Occupation Tax
				Act, the Non-Home Rule Municipal Service Occupation Tax Act, the Home
				RuleCounty Retailers' Occupation Tax Act, the Home Rule County Service
				Occupation Tax Act, Section 4 of the Water Commission Act of 1985, subsections
				(b), (c) and (d) of Section 5.01 of the Local Mass Transit District Act, or
				subsections (e), (f) and (g) of Section 4.03 of the Regional Transportation
				Authority Act: Provided that if the amount of the credit memorandum must first
				be applied, in whole or in part, against an established unpaid assessment which
				has been issued to the claimant-assignor, or in total or partial liquidation of
				an unpaid admitted tax liability, or unpaid penalty, or unpaid amount of
				interest, of the claimant-assignor, notice to this effect shall be given to the
				claimant-assignor by the Department.