Synopsis of Bill as introduced:
Amends the Illinois Income Tax Act to provide that the Department
of Revenue may credit the amount of any overpayment against any final
tax liability for which collection is not otherwise barred. Provides
that a corporation or partnership acquiring a similar entity's assets
shall succeed to certain tax credits and net losses of the acquired
entity. Provides that in the innocent spouse provisions for tax
liabilities that are unpaid, an individual's liability under a joint
return may not exceed the individual's separate return amount. Amends
the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax
Act, the Retailers' Occupation Tax Act and further amends the Illinois
Income Tax Act. Provides that beginning October 1, 2000, a taxpayer
with an annual tax liability of $50,000 or more shall make all
payments to the Department by electronic funds transfer. After October
1, 2000, requires quarter monthly payments by taxpayers having an
average monthly tax liability of $25,000 or more. Further amends the
Service Use Tax Act and the Service Occupation Tax Act to provide that
the 1% tax rate on food prepared for immediate consumption and
transferred incident to a sale of service applies to an entity
licensed under the Child Care Act of 1969. Amends the
Telecommunications Excise Tax Act to provide that the Department may
authorize the annual filing of a return if the retailers' average
monthly tax billings do not exceed $50. Makes other changes.
SENATE AMENDMENT NO. 1.
Restores for individuals, corporations, trusts and estates, and
partnerships the deductions equal to the amounts disallowed as
deductions under Sections 265(1) and (2) of the Internal Revenue Code
for taxable years before 2000.
HOUSE AMENDMENT NO. 1.
Adds reference to:
35 ILCS 105/3-30 from Ch. 120, par. 439.3-30
35 ILCS 110/3-30 from Ch. 120, par. 439.33-30
35 ILCS 115/3-30 from Ch. 120, par. 439.103-30
35 ILCS 120/2-30 from Ch. 120, par. 441-30
Further amends the Use Tax Act, Service Use Tax Act, Service
Occupation Tax Act, and Retailers' Occupation Tax Act. Changes the
exemption for graphic arts production to include certain processes,
including ink jet printing, described in the North American Industry
Classification System published by the U.S. Office of Management and
Budget, 1997 edition. Provides that production does not include (i)
the transfer of images onto paper or other tangible personal property
by means of photocopying or (ii) final printed products in electronic
or audio form, including the production of software or audio-books.
HOUSE AMENDMENT NO. 2.
Changes the amendatory provisions of the Illinois Income Tax Act,
Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and the
Retailers' Occupation Tax Act. Provides that beginning October 1,
2000, a taxpayer with an annual tax liability of $200,000 (instead of
$50,000) or more shall make all payments to the Department of Revenue
by electronic funds transfer. Provides that after October 1, 2000,
taxpayers having an average monthly tax liability of $20,000 (instead
of $25,000) or more shall make quarter monthly payments to the
HOUSE AMENDMENT NO. 3.
Adds reference to:
35 ILCS 5/304 from Ch. 120, par. 3-304
Further amends the Illinois Income Tax Act concerning business
income of nonresidents. Provides that gross receipts from the
licensing, sale, or other disposition of a patent, copyright,
trademark, or similar item of intangible personal property are in this
State to the extent the item is utilized in this State during the year
that the gross receipts are included in gross income. Sets out
parameters for the place of utilization. Provides that the amendatory
provisions apply to tax years ending on or after December 31, 1999,
but that a taxpayer may elect to apply the provisions to prior tax
HOUSE AMENDMENT NO. 4.
Allows an income tax deduction for taxable years ending on or
after the effective date of this amendatory Act (now beginning on or
after January 1, 2000) for amounts disallowed as deductions by certain
provisions of the Internal Revenue Code.
Last action on Bill: PUBLIC ACT.............................. 91-0541
Last action date: 99-08-13
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 4 SENATE - 1
END OF INQUIRY
Full Text Bill Status