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Question
or Topic
The
Answer
This
guide should ONLY be used as a guide to determine minimum
requirements to be met by business corporations, limited partnerships
and limited liability companies. The Chart does not cover all
taxing/reporting requirements (i.e. withholding taxes, information at
source, sales and use taxes, abandoned/escheat property, etc.).
| Illinois
Tax Information Chart |
| TAX |
CORPORATION
INCOME TAX RETURN & PAYMENT OF INCOME TAX |
| FORMS
AVAILABILITY |
Dept. of
Revenue sends forms to the corporation. |
| DUE
DATE |
March
15th/15th day of 3rd month following close of corporation's
fiscal yr |
| DEPARTMENT |
Illinois
Department of Revenue
P.O. Box 19032
Springfield, IL 62794-9008
(217) 782-3336 |
| TAX
RATE/FEES |
Rate
4.8%, plus 2.5% of base income. Estimated tax is due to Dept.
Rev. in equal installments by 4-15, 6-15, 9-15, and 12-15 if tax
over $400 in excess of withholdings and credits. If requirements
met later, prorate payments over remaining periods. |
| TAX |
ANNUAL REPORT &
FRANCHISE TAX |
| FORMS AVAILABILITY |
Secretary of State
sends forms to the Registered Agent. |
| DUE DATE |
Before 1st day of
Anniversary Month |
| DEPARTMENT |
Department of
Business Services
501 S. 2nd Street
Springfield, IL 62756 - 5510
(217) 782-7808 |
| TAX RATE/FEES |
Filing Fee - $25.
Franchise Tax - filing month. The Annual Franchise Tax is
computed at the rate of 1/10 of 1% (.10 of 1%) for the 12 month
period commencing the first day of the anniversary month of the
corporation on the proportion of its paid-in capital as of the
last day of the third month preceding the anniversary month
represented by the ratio of Illinois property and business to
total property and business everywhere - minimum tax is $25.00
and maximum tax is $1,000,000. |
| TAX |
CUMULATIVE REPORT OF
CHANGES IN ISSUED SHARES & PAID-IN-CAPITAL |
| FORMS AVAILABILITY |
Secretary of State
sends forms to the Registered Agent. |
| DUE DATE |
Once a Year - Filed
with the Annual Franchise Tax Report |
| DEPARTMENT |
Department of
Business Services
P. O. Box 19032
Springfield, IL 62794-9032
(217) 782-6961 |
| TAX RATE/FEES |
Additional Franchise
Tax will be assessed based on increases or decreases in Paid in
Capital allocated to Illinois for taxable period. |
| TAX |
LIMITED PARTNERSHIP
BIENNIAL RENEWAL REPORT |
| FORMS AVAILABILITY |
Secretary of State
sends forms to the Registered Agent. |
| DUE DATE |
March 15th/15th day
of 3rd month following close of fiscal yr. |
| DEPARTMENT |
Dept. Of Business
Services
Limited Partnership Division
501 S. 2nd Street
Springfield, IL 62756 - 5510
(217) 785-8960 |
| TAX RATE/FEES |
Filing Fee - $15 |
| TAX |
LIMITED LIABILITY
COMPANY ANNUAL REPORT |
| FORMS AVAILABILITY |
Secretary of State
sends forms to the Registered Agent. |
| DUE DATE |
Within 60 days
preceding the 1st day of Anniversary Month |
| DEPARTMENT |
Dept. Of Business
Services
Limited Liability Company Division
501 S. 2nd Street
Springfield, IL 62756-5510
(217) 785-8960 |
| TAX RATE/FEES |
Filing Fee - $200. |
Solutions
are dependent upon facts & circumstances, law and the
objectives. These elements vary from one time to another, from one
circumstance to another and from from person or entity to another
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