In making such return the taxpayer may use any reasonable method to
derive reportable "therms" and "gross receipts" from his billing and
payment records.
Any taxpayer required to make payments under this Section may make the
payments by electronic funds transfer. The Department shall adopt rules
necessary to effectuate a program of electronic funds transfer.
If the taxpayer's average monthly tax liability to the Department
does not exceed $100.00, 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 taxpayer's average monthly tax liability to the Department
does not exceed $20.00, 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 a taxpayer may file his return, in the case of any taxpayer
who ceases to engage in a kind of business which makes him responsible
for filing returns under this Act, such taxpayer shall file a final
return under this Act with the Department not more than one month after
discontinuing such business.
In making such return the taxpayer shall determine the value of any
reportable consideration other than money received by him and shall include
such value in his return. Such determination shall be subject to review
and revision by the Department in the same manner as is provided in this
Act for the correction of returns.
Each taxpayer whose average monthly liability to the Department under
this Act 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 the
taxpayer's actual tax liability for the month or 25% of the taxpayer'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 taxpayer's return for that month. Any
outstanding credit, approved by the Department, arising from the
taxpayer's overpayment of its 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 the taxpayer'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, the taxpayer
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 the taxpayer has previously made payments for that
month to the Department in excess of the minimum payments previously due.
If the Director finds that the information required for the making of
an accurate return cannot reasonably be compiled by a taxpayer within 15
days after the close of the calendar month for which a return is to be
made, he may grant an extension of time for the filing of such return
for a period of not to exceed 31 calendar days. The granting of such an
extension may be conditioned upon the deposit by the taxpayer with the
Department of an amount of money not exceeding the amount estimated by
the Director to be due with the return so extended. All such deposits,
including any made before the effective date of this amendatory Act of
1975 with the Department, shall be credited against the taxpayer's
liabilities under this Act. If any such deposit exceeds the taxpayer's
present and probable future liabilities under this Act, the Department
shall issue to the taxpayer a credit memorandum, which may be assigned
by the taxpayer to a similar taxpayer under this Act, in accordance with
reasonable rules and regulations to be prescribed by the Department.
The taxpayer 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 Act. All moneys received by the Department under this
Act shall be paid into the General Revenue Fund in the State Treasury,
except as otherwise provided.
If any payment provided for in this Section exceeds the taxpayer's liabilities under this Act, as shown on an original return, the Department may authorize the taxpayer 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.
(Source: P.A. 100-1171, eff. 1-4-19.)
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