Bill Text: IL HB1355 | 2011-2012 | 97th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Income Tax Act and the Unemployment Insurance Act. Provides that employers with fewer than 25 employees are exempt from paying estimated taxes and may pay their unemployment insurance contributions and submit their wage and contribution reports on an annual basis (instead of quarterly). Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Failed) 2013-01-08 - Session Sine Die [HB1355 Detail]
Download: Illinois-2011-HB1355-Introduced.html
Bill Title: Amends the Illinois Income Tax Act and the Unemployment Insurance Act. Provides that employers with fewer than 25 employees are exempt from paying estimated taxes and may pay their unemployment insurance contributions and submit their wage and contribution reports on an annual basis (instead of quarterly). Effective immediately.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Failed) 2013-01-08 - Session Sine Die [HB1355 Detail]
Download: Illinois-2011-HB1355-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Income Tax Act is amended by | ||||||||||||||||||||||||||
5 | changing Section 803 as follows:
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6 | (35 ILCS 5/803) (from Ch. 120, par. 8-803)
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7 | Sec. 803. Payment of Estimated Tax.
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8 | (a) Every taxpayer other than an
estate, trust, | ||||||||||||||||||||||||||
9 | partnership, Subchapter S corporation , business employing | ||||||||||||||||||||||||||
10 | fewer than 25 employees, or farmer is required
to pay estimated | ||||||||||||||||||||||||||
11 | tax for the taxable year, in such amount and with such
forms as | ||||||||||||||||||||||||||
12 | the Department shall prescribe, if the amount payable as | ||||||||||||||||||||||||||
13 | estimated
tax can reasonably be expected to be more than (i) | ||||||||||||||||||||||||||
14 | $250 for taxable years
ending before December 31, 2001 and $500 | ||||||||||||||||||||||||||
15 | for taxable years ending on or
after December 31, 2001 or (ii) | ||||||||||||||||||||||||||
16 | $400 for
corporations.
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17 | (b) Estimated tax defined. The term "estimated tax" means | ||||||||||||||||||||||||||
18 | the excess of:
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19 | (1) The amount which the taxpayer estimates to be his | ||||||||||||||||||||||||||
20 | tax under this Act
for the taxable year, over
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21 | (2) The amount which he estimates to be the sum of any | ||||||||||||||||||||||||||
22 | amounts to be
withheld on account of or credited against | ||||||||||||||||||||||||||
23 | such tax.
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1 | (c) Joint payment. If they are eligible to do so for | |||||||||||||||||||||||||||||
2 | federal tax
purposes, a husband and wife may pay estimated tax | |||||||||||||||||||||||||||||
3 | as if they were one
taxpayer, in which case the liability with | |||||||||||||||||||||||||||||
4 | respect to the estimated tax
shall be joint and several. If a | |||||||||||||||||||||||||||||
5 | joint payment is made but the husband and
wife elect to | |||||||||||||||||||||||||||||
6 | determine their taxes under this Act separately, the
estimated | |||||||||||||||||||||||||||||
7 | tax for such year may be treated as the estimated tax of either
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8 | husband or wife, or may be divided between them, as they may | |||||||||||||||||||||||||||||
9 | elect.
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10 | (d) There shall be paid 4 equal installments of estimated | |||||||||||||||||||||||||||||
11 | tax for
each taxable year, payable as follows:
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19 | (e) Farmers. An individual, having gross income from | |||||||||||||||||||||||||||||
20 | farming for the
taxable year which is at least 2/3 of his total | |||||||||||||||||||||||||||||
21 | estimated gross income for such year.
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22 | (f) Application to short taxable years. The application of | |||||||||||||||||||||||||||||
23 | this
section to taxable years of less than 12 months shall be | |||||||||||||||||||||||||||||
24 | in accordance with
regulations prescribed by the Department.
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25 | (g) Fiscal years. In the application of this section to the | |||||||||||||||||||||||||||||
26 | case of a
taxable year beginning on any date other than January |
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1 | 1, there shall be
substituted, for the months specified in | ||||||
2 | subsections (d) and
(e), the
months which correspond thereto.
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3 | (h) Installments paid in advance. Any installment of | ||||||
4 | estimated
tax may be paid before the date prescribed for its | ||||||
5 | payment.
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6 | The changes in this Section made by this amendatory Act of | ||||||
7 | 1985 shall
apply to taxable years ending on or after January 1, | ||||||
8 | 1986.
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9 | (Source: P.A. 91-913, eff. 1-1-01.)
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10 | Section 10. The Unemployment Insurance Act is amended by | ||||||
11 | changing Section 1400.2 as follows:
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12 | (820 ILCS 405/1400.2) | ||||||
13 | Sec. 1400.2. Annual reporting and paying; household | ||||||
14 | workers. This Section applies to an employer who solely employs | ||||||
15 | fewer than 25 workers one or more household workers with | ||||||
16 | respect to whom the employer files federal unemployment taxes | ||||||
17 | as part of his or her federal income tax return, or could file | ||||||
18 | federal unemployment taxes as part of his or her federal income | ||||||
19 | tax return if the worker or workers were providing services in | ||||||
20 | employment for purposes of the federal unemployment tax. For | ||||||
21 | purposes of this Section, "household worker" has the meaning | ||||||
22 | ascribed to it for purposes of Section 3510 of the federal | ||||||
23 | Internal Revenue
Code. If an employer to whom this Section | ||||||
24 | applies notifies the Director, in writing, that he or she |
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1 | wishes to pay his or her contributions for each quarter and | ||||||
2 | submit his or her wage and contribution reports for each | ||||||
3 | quarter on an annual basis, then the due date for filing the | ||||||
4 | reports and paying the contributions shall be April 15 of the | ||||||
5 | calendar year immediately following the close of the quarters | ||||||
6 | to which the reports and contributions apply, except that the | ||||||
7 | Director may, by rule, establish a different due date for good | ||||||
8 | cause.
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9 | (Source: P.A. 94-723, eff. 1-19-06.)
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10 | Section 99. Effective date. This Act takes effect upon | ||||||
11 | becoming law.
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