(35 ILCS 5/403) (from Ch. 120, par. 4-403)
Sec. 403.
Effect of Determination for Federal Purposes.
(a) Reporting. To the extent not inconsistent with the
provisions of this Act or forms or regulations prescribed by the
Department, each person making a return under this Act shall take into
account the items of income, deduction and exclusion on such return in
the same manner and amounts as reflected in such person's federal income
tax return for the same taxable year.
(b) Adjustment. A final determination pursuant to the Internal
Revenue Code adjusting any item or items of income, deduction or
exclusion for any taxable year shall be correct for purposes
of this Act to the extent such item or items enter into the
determination of base income.
(c) Identification of differences. To the extent required by
forms or regulations prescribed by the Department, any person making a
return under this Act may be required to indicate the item or items of
income, deduction and exclusion which would enter into the determination
of base income if this Act were amended to incorporate the Internal
Revenue Code as amended and in effect for such taxable year.
(Source: P.A. 81-1405.)
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