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Newsletter articles from 2001
Did you know?
There are more than 6835 units of local government in the state of Illinois. Pennsylvania, the second state in line, has approximately 5135.
Don’t be used by the great unknown—use taxes
You've just received a notice from the Illinois Department of Revenue asking for use tax on the bedroom suite you received last year as the result of a catalog purchase from an East Coast company.
Is your client a "responsible person" or merely an investor? Ask whether he knew of the corporation's financial troubles, signed checks and whether he became involved in the day-to-day operations of the corporation.
From the editors
This newsletter contains an article on the history of tax caps in Illinois. This article originally appeared in the July 2001 issue of the Illinois Tax Facts, published by the Taxpayers' Federation of Illinois, Springfield, Illinois.
From the editors
The State and Local Taxation Section has developed a list of useful Web sites to assist you in your daily practice of state and local tax law.
Illinois circuit court: complete liquidation proceeds are non-business income
On January 24, 2001, reversing an administrative decision of the Illinois Department of Revenue ("IDOR"), the Circuit Court of Cook County held that gain recognized on a complete liquidation was non-business income, notwithstanding Illinois' adoption of the "functional test" of business income. Blessing/White, Inc., et al., No. 99 L 51087.
Illinois State Bar Association State and Local Taxation Section Council minutes
Chair Timothy E. Moran convened the meeting of the SALT Section Council at 12:30 P.M. Although the meeting was scheduled for Noon, and the Chair usually calls the meetings to order with punctuality, an exception was made to accommodate several of the members who chose to join the crowd assembled at the Daley Center in remembering the victims of the World Trade Center.
The Illinois Training Expense Credit: what else!
In the June 2001 issue of Tax Trends (Volume 44, No. 6), the newsletter of the State and Local Taxation Section of the Illinois State Bar Association (the ISBA), an article entitled "The Illinois Training Expenses Credit: What Next?" reviewed the history and current controversies and offered guidance in respect to the Illinois training expense credit (TEC).
The Illinois training expense credit: what next?
The Illinois training expense credit has been the subject of much controversy over the past five years. From 1995 through 2000, the Illinois Department of Revenue (the "Department") and taxpayers have disagreed on whether a 1995 regulation that expanded the scope of the credit was to be applied retroactively or prospectively.
ISBA State and Local Taxation Section Council minutes from meeting of May 19, 2000
1. Joanne Elliot, Stan Kaminski, Tim Moran, Bob Barr, Tom Battista, Jim Chipman, Mary Ann Connelley, Mark Davis, Jim Geraghty, Tom Jaconetty, John Locallo, Lisa Marino, Tom McNulty, April Montgomery, Mary Nicolau, John Norris, Bill Seitz, Iris Sholder, Rodney Slutzky, and Judge Alexander White.
Recent case summary
The First District Appellate Court applied a literal reading of the Illinois Retailers' Occupation Tax and Use Tax and held that the transfer of title to an aircraft to an intermediary for ultimate transfer to the ultimate purchaser of the aircraft resulted in two separate sales.
Recent changes to the Indemnity Fund Act
In 1969, the Illinois General Assembly passed the state's first Indemnity Fund Act in response to well-publicized instances of homeowners losing their property under circumstances found to be unconscionable.
On July 24, 2001 Governor Ryan signed HB 509 now PA 92-0133. Public Act 92-0133 authorizes the Cook County Board of Review to destroy or otherwise dispose of complaints and records pertaining thereto after the lapse of five years from the filing dat
The following issues were raised on appeal: (1) whether the subject property qualified as an educational facility pursuant to the statute: (2) whether the DOR's denial and revocation of tax-exempt status violated the petitioner's due process rights: and (3) whether the DOR's procedure for reviewing exemption revocation complied with the Administrative Procedure Act.
Responsible and willful? Yes Responsible and willful? No
A recent unpublished opinion of the Appellate Court of Illinois, First Judicial District, addressed the position taken by the Taxpayer that the period of his tax liability could be divided into two periods for the purpose of determining whether he was a responsible person who acted willfully in failing to pay a corporation's taxes.
A rock, a hard place, and a level of assessment in Cook County
What do the General Assembly, the appellate court, and the Property Tax Appeal Board (PTAB) have in common? Each branch of government must wrestle with the latest hot-button issue to surface in real estate tax law--the proper formula to be used for debasing market value to assessed value in PTAB appeals.