Sec. 2505-210. Electronic funds transfer.

382 words·~2 min read·/il/chapter-20/act-2505/2505-210

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)The Department may provide means by which persons having a tax liability under any Act administered by the Department may use electronic funds transfer to pay the tax liability.

(b)Mandatory payment by electronic funds transfer. Except as otherwise provided in a tax Act administered by the Department, a taxpayer (other than an individual taxpayer) who has an annual tax liability of $20,000 or more and an individual taxpayer who has an annual tax liability of $200,000 or more shall make all payments of that tax to the Department by electronic funds transfer. Before August 1 of each year, beginning in 2002, the Department shall notify all taxpayers required to make payments by electronic funds transfer. All taxpayers required to make payments by electronic funds transfer shall make those payments for a minimum of one year beginning on October 1. For purposes of this subsection (b), the term "annual tax liability" means, except as provided in subsections

(c)and

(d)of this Section, the sum of the taxpayer's liabilities under a tax Act administered by the Department for the immediately preceding calendar year.

(c)For purposes of subsection (b), the term "annual tax liability" means, for a taxpayer that incurs a tax liability under the Retailers' Occupation Tax Act, Service Occupation Tax Act, Use Tax Act, Service Use Tax Act, or any other State or local occupation or use tax law that is administered by the Department, the sum of the taxpayer's liabilities under the Retailers' Occupation Tax Act, Service Occupation Tax Act, Use Tax Act, Service Use Tax Act, and all other State and local occupation and use tax laws administered by the Department for the immediately preceding calendar year.

(d)For purposes of subsection (b), the term "annual tax liability" means, for a taxpayer that incurs an Illinois income tax liability, the greater of:

(1)the amount of the taxpayer's tax liability under Article 7 of the Illinois Income

Tax Act for the immediately preceding calendar year; or

(2)the taxpayer's estimated tax payment obligation under Article 8 of the Illinois

Income Tax Act for the immediately preceding calendar year.

(e)The Department shall adopt such rules as are necessary to effectuate a program of electronic funds transfer and the requirements of this Section.