In making such return, the self-assessing purchaser may use any reasonable
method to
derive
reportable "therms" and "purchase price" from his or her billing and payment
records.
If the average monthly liability of the self-assessing purchaser to the
Department does
not
exceed $100, the Department may authorize his or her 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 average monthly liability of the self-assessing purchaser to the
Department does
not
exceed $20, the Department may authorize his or her returns to be filed on a
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 Law concerning the time
within which
a self-assessing purchaser may file his or her return, in the case of any such
self-assessing purchaser who
ceases to
engage in a kind of business which makes him or her responsible for filing
returns under
this Law, such person shall file a final return under this Law with the
Department not more
than one month after discontinuing such business.
Each self-assessing purchaser whose average monthly liability to the
Department under
this Law
was $10,000 or more during the preceding calendar year, excluding the month of
highest
liability and the month of lowest liability in such calendar year, and who is
not operated
by a unit of local government, shall make estimated payments to the Department
on or
before the 7th, 15th, 22nd, and last day of the month during which tax
liability
to the
Department is incurred in an amount not less than the lower of either 22.5% of
such
person's actual tax liability for the month or 25% of such person's actual tax
liability for the
same calendar month of the preceding year. The amount of such quarter-monthly
payments shall be credited against the final tax liability of the
self-assessing purchaser's
return for that
month. Any outstanding credit, approved by the Department, arising from the
self-assessing purchaser's
overpayment of his or her final tax liability for any month may be applied to
reduce the
amount of any subsequent quarter-monthly payment or credited against the final
tax
liability of such self-assessing purchaser's return for any subsequent month.
If any
quarter-monthly
payment is not paid at the time or in the amount required by this Section, such
person
shall be liable for penalty and interest on the difference between the minimum
amount
due as a payment and the amount of such payment actually and timely paid,
except
insofar as such person has previously made payments for that month to the
Department in
excess of the minimum payments previously due.
The self-assessing purchaser making the return provided for in this Section
shall, at
the time of
making such return, pay to the Department the amount of tax imposed by this
Law.
All
moneys received by the Department under this Law shall be paid into the General
Revenue Fund in the State treasury.
(Source: P.A. 93-31, eff. 10-1-03.)
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