Illinois Compiled Statutes (Tax)
35 ILCS 5/1405
Transferees
Official textilga.gov
Sec. 1405. Transferees. The liability of a transferee of property of a taxpayer for any tax, penalty or interest due the Department under this Act, shall be assessed, paid and collected in the same manner and subject to the same provisions as in the case of the tax to which the liability relates, except that the period of limitations for the issuance of a notice of deficiency with respect to such liability shall be as provided in Section 905 (m). The term "transferee" includes donee, heir, legatee and distributee and bulk purchasers under Section 902 (d). (Source: P.A. 84-1308.)
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Nearby sections (25 sections)
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- 5/1405 · Transferees
- 5/1405.1 · Information Reports: (a) Rents and royalties
- 5/1405.2 · Information reports for payments made under contracts for…
- 5/1405.3 · (a) Payments made on or after January 1, 1989, for prizes or…
- 5/1405.4 · Tax refund inquiries; response
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