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805 ILCS 5/14.01
(805 ILCS 5/14.01) (from Ch. 32, par. 14.01)
Sec. 14.01.
Statement of election to establish an extended filing
month.
(a) Each domestic corporation and each foreign corporation authorized
to transact business in this State, having reported on its last annual
report, or articles of incorporation in the case of a domestic corporation,
or application for certificate of authority in the case of a foreign
corporation, an amount less than 100% of its paid-in capital represented in
Illinois, may make an irrevocable, one time election to establish an
extended filing month for the purpose of filing annual reports for all
subsequent taxable years by filing pursuant to Section 1.10 within the time
prescribed by subsection (c) of this Section, a statement setting forth:
(1) The name of the corporation.
(2) The file number of the corporation as assigned by | |
(3) The state or country under whose laws it was
| | organized, the date of incorporation or the date of the issuance of its certificate of authority, if a foreign corporation.
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(4) The date of the fiscal year end immediately
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(5) The extended filing month, which month may be any
| | month in 1991 or a subsequent year which is one of the 9 months consecutively following the end of the corporation's fiscal year, except that such month may not be one of the 2 months immediately preceding the corporation's anniversary month.
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Notwithstanding the foregoing, a corporation whose
| | fiscal year ends within the 2 months immediately preceding its anniversary month may not elect an extended filing month.
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(b) The statement of election shall be accompanied by an interim annual
report which shall set forth, as of the date of filing of the statement,
all of the information required pursuant to Section 14.05 of this Act to be
included in the annual report except that the information required by
subparagraph (h) of Section 14.05 shall be the amounts represented in this
State as disclosed by the preceding annual report or if no annual report is
on file, from information contained in the articles of incorporation of a
domestic corporation or the application for certificate of authority in the
case of a foreign corporation.
(c) The statement of election and interim annual report referred to in
this Section, together with all fees, taxes and charges as prescribed by
this Act and prorated in accordance with Section 15.45 or 15.75, shall be
delivered to the Secretary of State within 60 days immediately preceding
the first day of the anniversary month of the corporation in 1991 or any
subsequent year. Proof to the satisfaction of the Secretary of State that
prior to the first day of the anniversary month of the corporation such
statement of election and interim annual report together with all fees,
taxes and charges as prescribed by this Act, were deposited in the United
States mail in a sealed envelope, properly addressed, with postage prepaid,
shall be deemed a compliance with this requirement. If the Secretary of
State finds that such statement and reports conform to the requirements of
this Act, he or she shall file the same. If he or she finds that they do
not so conform, he or she shall promptly return the same to the corporation
for any necessary corrections, in which event the penalties hereinafter
prescribed for failure to file such report within the time hereinabove
provided shall not apply if such statement, if applicable, and report are
corrected to conform to the requirements of this Act and returned to the
Secretary of State within 30 days of the date the report was returned for
corrections.
(d) Subsequent to the filing of the statement of election and the
interim annual report, the corporation shall file within 60 days prior to the
extended filing month a final transition annual report reflecting the factual
information required by Section 14.05, and must pay the appropriate fees
and franchise taxes due, if any, or set forth the amount of any overpayment
to be credited against any other taxes applicable under this Act which may
thereafter be payable, in each case based on any difference which may exist
between its interim annual report and its final transition annual report.
Compliance with this Section establishes a new reporting period for
documents required under Article 14 of this Act.
(Source: P.A. 86-985.)
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