State of Illinois Blank Form Ptax 762
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People also ask
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What is a PTAX 203 in Illinois?
Note: File PTAX-203-A, Illinois Real Estate Transfer Declaration Supplemental Form A, if the amount on Line 11 is over $1 million and the property's current use on Line 8 is marked “Apartment building (over 6 units),” “Office,” “Retail establishment,” “Commercial building,” “Industrial building,” or “Other.”
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How to apply for Illinois sales tax?
You can register electronically using MyTax Illinois, available at mytax.illinois.gov. On the MyTax Illinois homepage, click “Register a New Business (Form REG-1).” Note that processing time for a registration application submitted through MyTax Illinois is approximately one to two business days.
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What is an assignment of beneficial interest in Illinois?
"Collateral assignment of beneficial interest" means any pledge or assignment of the beneficial interest in a land trust to any person to secure a debt or other obligation. P.A. 84-1462.
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Who is subject to Illinois personal property tax replacement income tax?
Corporations pay a 2.5 percent replacement tax on their net Illinois income. Partnerships, trusts, and S corporations pay a 1.5 percent replacement tax on their net Illinois income. Public utilities pay a 0.8 percent tax on invested capital.
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Who pays real estate transfer tax in Illinois?
Most of the time, sellers pay. In some communities, buyers are hit with the tax. In Chicago, both buyers and sellers must pay a transfer tax. In addition to the municipal transfer tax, each county in Illinois assesses a transfer tax at the rate of 50 cents per thousand dollars of the sale price.
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What is the penalty for estimated payments in Illinois?
The late-payment penalty amount is based on the number of days the payment is late. Payments less than 31 days late are penalized at 2% of the amount due, and payments 31+ days late are penalized at 10% of the amount due.
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