86 Ill. Adm. Code 140.420 — Annual Information Returns by Servicemen

# Annual Information Returns by Servicemen

TITLE 86: REVENUE CHAPTER I: DEPARTMENT OF REVENUE PART 140 SERVICE OCCUPATION TAX SECTION 140.420 ANNUAL INFORMATION RETURNS BY SERVICEMEN

Section 140.420 Annual Information Returns by Servicemen a) In addition to any other return required by the Act, each serviceman shall annually file an information return covering the preceding calendar year (or fiscal year if the serviceman files his Federal income tax returns on the basis of a fiscal year). Such annual return shall be filed with the Department on a form prescribed by the Department not more than 30 days after the date set for the filing of such serviceman's Federal income tax return. Such annual return to the Department shall include a statement of gross receipts as shown by the serviceman's last Federal income tax return. If the total receipts of the business as reported in the Federal income tax return do not agree with the gross receipts reported to the Department of Revenue for the same period, the serviceman shall attach to his annual return a schedule showing a reconciliation of the 2 amounts and the reasons for the difference. The serviceman's annual return to the Department shall also disclose the cost of goods sold by the serviceman during the year covered by such return, opening and closing inventories of such goods for such year, cost of goods used from stock or taken from stock and given away by the serviceman during such year, payroll information of the serviceman's business during such year and any additional reasonable information which the Department deems would be helpful in determining the accuracy of the monthly, quarterly or annual returns filed by such serviceman as hereinbefore provided for in this Section. b) The foregoing portion of this Section concerning the filing of an annual information return also does not apply to a serviceman who is not required to file an income tax return with the United States Government. (Source: Amended at 14 Ill. Reg. 262, effective January 1, 1990)

Section 140.420 Annual Information Returns by Servicemen

a) In addition to any other return required by the Act, each serviceman shall annually file an information return covering the preceding calendar year (or fiscal year if the serviceman files his Federal income tax returns on the basis of a fiscal year). Such annual return shall be filed with the Department on a form prescribed by the Department not more than 30 days after the date set for the filing of such serviceman's Federal income tax return. Such annual return to the Department shall include a statement of gross receipts as shown by the serviceman's last Federal income tax return. If the total receipts of the business as reported in the Federal income tax return do not agree with the gross receipts reported to the Department of Revenue for the same period, the serviceman shall attach to his annual return a schedule showing a reconciliation of the 2 amounts and the reasons for the difference. The serviceman's annual return to the Department shall also disclose the cost of goods sold by the serviceman during the year covered by such return, opening and closing inventories of such goods for such year, cost of goods used from stock or taken from stock and given away by the serviceman during such year, payroll information of the serviceman's business during such year and any additional reasonable information which the Department deems would be helpful in determining the accuracy of the monthly, quarterly or annual returns filed by such serviceman as hereinbefore provided for in this Section.

b) The foregoing portion of this Section concerning the filing of an annual information return also does not apply to a serviceman who is not required to file an income tax return with the United States Government.

(Source: Amended at 14 Ill. Reg. 262, effective January 1, 1990)