Provena loses its charitable property tax exemptionBy Helen W. GunnarssonMay 2010LawPulse, Page 230A hospital that gives away less than one percent of its annual revenue in free patient care doesn't qualify for a charitable property tax exemption, the Illinois Supreme Court holds.
The Illinois QTIP Election to the RescueBy Robert J. KolasaDecember 2009Article, Page 612Big news for estate planners - the new Illinois QTIP lets clients use the full federal exclusion without Illinois estate tax consequences.
Presenting property tax appealsOctober 2009Column, Page 532Q: The fair market value of my house has decreased since the recession, but my property taxes haven’t. I’ve filed an appeal of my assessment with the Board of Review, and I’m waiting for the hearing. What is my best argument at the hearing? What should I take with me in the way of evidence? What are my chances in getting the taxes reduced?
Winning at Darwin’s GameBy Katarinna McBrideAugust 2009Column, Page 420Survivor-style challenges and opportunities confront estate planners.
Illinois Retailers’ Occupation Tax revisedMay 2009Illinois Law Update, Page 226The Illinois Department of revenue revised the retailers' occupation tax as it relates to fly-away aircrafts and taxes charged by hotels and similar establishments for the rental of meeting, conference, banquet, and other similar types of rooms when food and beverages are provided. 86 Ill Adm Code 130.
Illinois Estate Tax Planning in 2009 and BeyondBy Gary R. Gehlbach and Emily R. VivianFebruary 2009Article, Page 80Beginning this year, the gap between the Illinois and federal estate tax widens. This article discusses the implications and makes the case for an Illinois QTIP.
State Income Tax rules updatedJanuary 2009Illinois Law Update, Page 16The Illinois Department of Revenue amended Title 86, which governs Illinois state income tax rules. 86 Ill Adm Code 100.7300 et seq. The purpose of the amendment is to provide guidance on the application of the Illinois income tax withholding requirements for employers.
Changes to the Illinois income tax lawsOctober 2008Illinois Law Update, Page 504The Illinois Department of Revenue made several amendments and added two sections to Part 100 of Title 86, relating to the assessment and collection of Illinois income tax.
State must take reasonable steps to inform homeowner debtor of impending house saleJune 2007Illinois Law Update, Page 292On April 19, 2007, in a case that was remanded to the Illinois Supreme Court from the United States Supreme Court, the Illinois Supreme Court, effectively, affirmed its own prior decision, holding that the state and the purchaser of a tax deed had made sufficient efforts to give notice to the delinquent taxpayer.
Sales of intangible property during cessation of business activity is nonbusiness incomeJanuary 2007Illinois Law Update, Page 14The Illinois Appellate Court, First District, affirmed on November 9, 2006, the Circuit Court of Cook County's grant of summary judgment in favor of the plaintiff after the Illinois Department of Revenue (Department) issued a notice of deficiency against her for alleged failure to report over $20 million in partnership income.