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Commission on Government Forecasting and Accountability COMMISSION CO-CHAIRS Senator Jeffrey M. Schoenberg Representative Patricia Bullock SENATE HOUSE Michael French Matt Murphy Sufi Schmidt David

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What is illinois estate taxes?

Illinois estate taxes are taxes imposed on the transfer of assets from a deceased person to their beneficiaries or heirs.

Who is required to file illinois estate taxes?

Individuals who inherit assets from a deceased person in Illinois may be required to file estate taxes.

How to fill out illinois estate taxes?

Illinois estate taxes can be filled out by completing the necessary forms provided by the Illinois Department of Revenue and submitting them along with any required documentation.

What is the purpose of illinois estate taxes?

The purpose of Illinois estate taxes is to generate revenue for the state government and to ensure that assets transferred from a deceased person are properly taxed.

What information must be reported on illinois estate taxes?

Information such as the value of the assets being transferred, the value of any debts or liabilities, and details of the beneficiaries or heirs must be reported on Illinois estate taxes.

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