If the operator's average monthly tax liability to the Department
does not exceed $200, the Department may authorize his returns to be
filed on a quarter annual basis, with the return for January, February
and March of a given year being due by April 30 of such year; with the
return for April, May and June of a given year being due by July 31 of
such year; with the return for July, August and September of a given
year being due by October 31 of such year, and with the return for
October, November and December of a given year being due by January 31
of the following year.
If the operator's average monthly tax liability to the Department
does not exceed $50, the Department may authorize his returns to be
filed on an annual basis, with the return for a given year being due by
January 31 of the following year.
Such quarter annual and annual returns, as to form and substance,
shall be subject to the same requirements as monthly returns.
Notwithstanding any other provision in this Act concerning the time
within which an operator may file his return, in the case of any
operator who ceases to engage in a kind of business which makes him
responsible for filing returns under this Act, such operator shall file
a final return under this Act with the Department not more than 1 month
after discontinuing such business.
Where the same person has more than 1 business registered with the
Department under separate registrations under this Act, such person
shall not file each return that is due as a single return covering all
such registered businesses, but shall file separate returns for each
such registered business.
In his return, the operator shall determine the value of any
consideration other than money received by him in connection with the
renting, leasing or letting of rooms in the course of his business and
he shall include such value in his return. Such determination shall be
subject to review and revision by the Department in the manner
hereinafter provided for the correction of returns.
Where the operator is a corporation, the return filed on behalf of
such corporation shall be signed by the president, vice-president,
secretary or treasurer or by the properly accredited agent of such
The person filing the return herein provided for shall, at the time of
filing such return, pay to the Department the amount of tax herein imposed.
The operator filing the return under this Section shall, at the time of
filing such return, pay to the Department the amount of tax imposed by this
Act less a discount of 2.1% or $25 per calendar year, whichever is greater,
which is allowed to reimburse the operator for the expenses incurred in
keeping records, preparing and filing returns, remitting the tax and
supplying data to the Department on request.
If any payment provided for in this Section exceeds the operator's liabilities under this Act, as shown on an original return, the Department may authorize the operator to credit such excess payment against liability subsequently to be remitted to the Department under this Act, in accordance with reasonable rules adopted by the Department. If the Department subsequently determines that all or any part of the credit taken was not actually due to the operator, the operator's discount shall be reduced by an amount equal to the difference between the discount as applied to the credit taken and that actually due, and that operator shall be liable for penalties and interest on such difference.
There shall be deposited into the Build Illinois Fund in the State
Treasury for each State fiscal year 40% of the amount of total
net revenue from the tax imposed by subsection (a) of Section 3.
Of the remaining 60%: (i) $5,000,000 shall be deposited into the Illinois
Sports Facilities Fund and credited to the Subsidy Account each fiscal
year by making monthly deposits in the amount of 1/8 of $5,000,000 plus
cumulative deficiencies in such deposits for prior months, and (ii) an amount equal to the then applicable Advance Amount
shall be deposited into the Illinois Sports Facilities
Fund and credited to the Advance Account each fiscal year by making monthly
deposits in the amount of 1/8 of the then applicable Advance Amount plus any cumulative deficiencies
in such deposits for prior months. (The deposits of the then applicable Advance Amount
during each fiscal year shall be treated as advances
of funds to the Illinois Sports Facilities Authority for its corporate
purposes to the extent paid to the Authority or its trustee and shall be
repaid into the General Revenue Fund in the State Treasury by the State
Treasurer on behalf of the Authority pursuant to Section 19 of the Illinois
Sports Facilities Authority Act, as amended. If in any fiscal year the full
amount of the then applicable Advance Amount
is not repaid into the General Revenue Fund, then the deficiency shall be paid
from the amount in the Local Government Distributive Fund that would otherwise
be allocated to the City of Chicago under the State Revenue Sharing Act.)
For purposes of the foregoing paragraph, the term "Advance Amount"
means, for fiscal year 2002, $22,179,000, and for subsequent fiscal years
through fiscal year 2033, 105.615% of the Advance Amount for the immediately
preceding fiscal year, rounded up to the nearest $1,000.
Of the remaining 60% of the amount of total net revenue beginning on August 1, 2011 through June 30, 2023, from the tax imposed by subsection (a) of Section 3 after all required deposits into the Illinois Sports Facilities Fund, an amount equal to 8% of the net revenue realized from this Act during the preceding month shall be deposited as follows: 18% of such amount shall be deposited into the Chicago Travel Industry Promotion Fund for the purposes described in subsection (n) of Section 5 of the Metropolitan Pier and Exposition Authority Act and the remaining 82% of such amount shall be deposited into the Local Tourism Fund each month for purposes authorized by Section 605-705 of the Department of Commerce and Economic Opportunity Law. Beginning on August 1, 2011 and through June 30, 2023, an amount equal to 4.5% of the net revenue realized from this Act during the preceding month shall be deposited as follows: 55% of such amount shall be deposited into the Chicago Travel Industry Promotion Fund for the purposes described in subsection (n) of Section 5 of the Metropolitan Pier and Exposition Authority Act and the remaining 45% of such amount deposited into the International Tourism Fund for the purposes authorized in Section 605-707 of the Department of Commerce and Economic Opportunity Law. "Net
revenue realized" means the revenue collected by the State under this
Act less the amount paid out as refunds to taxpayers for overpayment of liability under this Act.
Beginning on July 1, 2023, of the remaining 60% of the amount of total net revenue realized from the tax imposed under subsection (a) of Section 3, after all required deposits into the Illinois Sports Facilities Fund:
(1) an amount equal to 8% of the net revenue
After making all these deposits, any remaining net revenue realized from the tax imposed under
subsection (a) of Section 3 shall be deposited into the Tourism Promotion Fund in
the State Treasury. All moneys received by the Department from the additional
tax imposed under subsection (b) of Section 3 shall be deposited into the Build
Illinois Fund in the State Treasury.
The Department may, upon separate written notice to a taxpayer, require
the taxpayer to prepare and file with the Department on a form prescribed
by the Department within not less than 60 days after receipt of the notice
an annual information return for the tax year specified in the notice.
Such annual return to the Department shall include a statement of gross
receipts as shown by the operator's last State income tax return. If the
total receipts of the business as reported in the State income tax return
do not agree with the gross receipts reported to the Department for the
same period, the operator shall attach to his annual information return a
schedule showing a reconciliation of the 2 amounts and the reasons for the
difference. The operator's annual information return to the Department
shall also disclose payroll information of the operator's business during
the year covered by such return and any additional reasonable information
which the Department deems would be helpful in determining the accuracy of
the monthly, quarterly or annual tax returns by such operator as
hereinbefore provided for in this Section.
If the annual information return required by this Section is not filed
when and as required the taxpayer shall be liable for a penalty in an
amount determined in accordance with Section 3-4 of the Uniform Penalty and
Interest Act until such return is filed as required, the penalty to be
assessed and collected in the same manner as any other penalty provided
for in this Act.
The chief executive officer, proprietor, owner or highest ranking manager
shall sign the annual return to certify the accuracy of the information
contained therein. Any person who willfully signs the annual return containing
false or inaccurate information shall be guilty of perjury and punished
accordingly. The annual return form prescribed by the Department shall
include a warning that the person signing the return may be liable for perjury.
The foregoing portion of this Section concerning the filing of an annual
information return shall not apply to an operator who is not required to
file an income tax return with the United States Government.
(Source: P.A. 102-16, eff. 6-17-21; 103-8, eff. 6-7-23.)