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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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What is section 130120 nontaxable transactions?
Section 130120 pertains to transactions that are not subject to taxation.
Who is required to file section 130120 nontaxable transactions?
Businesses and individuals involved in nontaxable transactions are required to file section 130120.
How to fill out section 130120 nontaxable transactions?
Section 130120 should be filled out by providing details of the nontaxable transactions as per the guidelines provided by the tax authorities.
What is the purpose of section 130120 nontaxable transactions?
The purpose of section 130120 is to accurately report nontaxable transactions for tax purposes.
What information must be reported on section 130120 nontaxable transactions?
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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