Bill Text: IL SB1800 | 2019-2020 | 101st General Assembly | Enrolled


Bill Title: Amends the Illinois Income Tax Act. Provides that taxpayers (other than estates, trusts, partnerships, Subchapter S corporations, and farmers) are required to pay estimated tax if the amount payable can reasonably be expected to be more than $1,000 (currently, $500). Provides that corporations are required to pay estimated tax if the amount payable can reasonably be expected to be more than $400 (which is the same as current law). Effective immediately.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Enrolled) 2019-06-21 - Sent to the Governor [SB1800 Detail]

Download: Illinois-2019-SB1800-Enrolled.html



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1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Illinois Income Tax Act is amended by
5changing Section 803 as follows:
6 (35 ILCS 5/803) (from Ch. 120, par. 8-803)
7 Sec. 803. Payment of Estimated Tax.
8 (a) Every taxpayer other than an estate, trust,
9partnership, Subchapter S corporation or farmer is required to
10pay estimated tax for the taxable year, in such amount and with
11such forms as the Department shall prescribe, if the amount
12payable as estimated tax can reasonably be expected to be more
13than (i) $250 for taxable years ending before December 31,
142001, and $500 for taxable years ending on or after December
1531, 2001 and before December 31, 2019, and $1,000 for taxable
16years ending on or after December 31, 2019, or (ii) $400 for
17corporations.
18 (b) Estimated tax defined. The term "estimated tax" means
19the excess of:
20 (1) The amount which the taxpayer estimates to be his
21 tax under this Act for the taxable year, over
22 (2) The amount which he estimates to be the sum of any
23 amounts to be withheld on account of or credited against

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1 such tax.
2 (c) Joint payment. If they are eligible to do so for
3federal tax purposes, a husband and wife may pay estimated tax
4as if they were one taxpayer, in which case the liability with
5respect to the estimated tax shall be joint and several. If a
6joint payment is made but the husband and wife elect to
7determine their taxes under this Act separately, the estimated
8tax for such year may be treated as the estimated tax of either
9husband or wife, or may be divided between them, as they may
10elect.
11 (d) There shall be paid 4 equal installments of estimated
12tax for each taxable year, payable as follows:
13Required Installment:Due Date:
141stApril 15
152ndJune 15
163rdSeptember 15
174thIndividuals: January 15 of the
18following taxable year
19Corporations: December 15
20 (e) Farmers. An individual, having gross income from
21farming for the taxable year which is at least 2/3 of his total
22estimated gross income for such year.
23 (f) Application to short taxable years. The application of
24this section to taxable years of less than 12 months shall be
25in accordance with regulations prescribed by the Department.
26 (g) Fiscal years. In the application of this section to the

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1case of a taxable year beginning on any date other than January
21, there shall be substituted, for the months specified in
3subsections (d) and (e), the months which correspond thereto.
4 (h) Installments paid in advance. Any installment of
5estimated tax may be paid before the date prescribed for its
6payment.
7 The changes in this Section made by this amendatory Act of
81985 shall apply to taxable years ending on or after January 1,
91986.
10(Source: P.A. 91-913, eff. 1-1-01.)
11 Section 99. Effective date. This Act takes effect upon
12becoming law.
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