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Get the free Section 130.120 Nontaxable Transactions - www2 illinois

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ILLINOIS REGISTER DEPARTMENT OF REVENUE NOTICE OF PROPOSED AMENDMENTS 1)Heading of the Part: Retailers Occupation Tax2)Code Citation: 86 Ill. Adm. Code 1303)Section Numbers: 130.120 130.321 130.350 130.3514)Statutory
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Section 130120 pertains to transactions that are not subject to taxation.
Businesses and individuals involved in nontaxable transactions are required to file section 130120.
Section 130120 should be filled out by providing details of the nontaxable transactions as per the guidelines provided by the tax authorities.
The purpose of section 130120 is to accurately report nontaxable transactions for tax purposes.
Information such as the nature of the transaction, parties involved, and amount of the transaction must be reported on section 130120.
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