Illinois – New Reporting Requirements for Businesses in Enterprise Zones

3/4/2013 

SALT Report 2217 – The Illinois Department of Revenue issued an information bulletin that discusses the new reporting requirements for taxpayers that receive income tax, utility tax, sales tax, property tax, gas tax, electricity excise tax or telecommunications excise tax incentives. The information in the bulletin affects taxpayers whose businesses are located in enterprise zones and river edge redevelopment zones, as well as high impact businesses, utility providers, and zone administrators.

Administrator Report

Enterprise zone and river edge redevelopment zone administrators are now required to collect and compile information regarding job creation, job retention, and capital investment and submit the information to the Department in an administrator report.

Business Report

Businesses that receive incentives because they are located in an enterprise zone or a river edge redevelopment zone or because they are a high impact business must report their information in a business report. Once the information is received, the Department will complete the incentive calculations for that business.

Utility Company Report

Businesses that are required to file under the Gas Revenue Tax Act, Gas Use Tax Act, Electricity Excise Tax Act, or Telecommunications Excise Tax Act are required to report all information requested by the Department regarding utility customers who received incentives due to the customer’s location within an enterprise zone or the customer’s certification as a high impact business. Once the information is received, the Department will complete the incentive calculations for that utility company.

Report Due Dates

Reports for calendar year 2012 are due March 30, 2013. However, because of the new reporting requirements the Department is providing businesses a one-time, 60-day extension to file their business reports. As a result, businesses that wish to utilize the extension must file their 2012 reports no later than May 29, 2013. Businesses are not required to contact the Department to obtain the 60-day extension.

The bulletin also discusses the requirement to use WebFile; the state’s online reporting system.

For Further Information

Illinois Department of Revenue – Informational Bulletin FY 2013-12

New Business Incentives Reporting Information