Cbs 1 Form Illinois PDF Details

As of January 1, 2017, the new Form IL-1 is now available for individuals who have to file an Illinois Income Tax return. This form replaces the former Form 1040 and includes many changes that taxpayers need to be aware of. To help you understand these changes and how they may impact you, we have compiled a list of the most important things you need to know about the new Form IL-1. Keep in mind that this information is current as of the date of this blog post, and that tax laws are always subject to change. So please be sure to consult with a qualified tax professional if you have any specific questions about your individual tax situation.

QuestionAnswer
Form NameCbs 1 Form Illinois
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namescbs 1 tax illinois gov, illinois department of revenue cbs 1 form, il form cbs 1 instructions, cbs 1 instructions

Form Preview Example

Illinois Department of Revenue

CBS-1 Notice of Sale, Purchase, or Transfer of Business Assets

General information

You (or the purchaser or the transferee) must complete Form CBS-1 if, outside your usual course of business, you sell or transfer the major part of the

•stock of goods that you are in the business of selling,

•furniture or fixtures,

•machinery and equipment, or

•real property of your business.

Forms received more than 10 days after the sale date will not be pro- cessed. The purchaser or transferee may be held liable for any debt incurred by the seller.

If you need additional information, you may call our Chicago office weekdays between 8:30 a.m. and 5:00 p.m. at 312 814-3063.

Mail your completed Form CBS-1, a copy of the sales contract, and financing agreement to:

BULK SALES UNIT

ILLINOIS DEPARTMENT OF REVENUE 100 WEST RANDOLPH LEVEL 7-400 CHICAGO IL 60601

You may fax your form and sales contract to us at 312 793-3841.

Part 1: Identify the business being sold or transferred and the identification numbers

1

____________________________________________________

3

_______________________________________

 

Business name

 

 

 

Illinois business tax number (IBT no.) or account identification number

 

2

____________________________________________________

4

___ ___-___ ___ ___ ___ ___ ___ ___ ___ ___ ___

 

Street address

 

 

 

Federal employer identification number (FEIN)

Seq. number

 

 

____________________________________________________

5

___ ___ ___-___ ___-___ ___ ___ ___

 

 

Street address (if needed)

 

 

 

Social Security number

 

 

 

____________________________________________________

6

Are you required to pay any excise taxes?

Yes

No

 

City

State

ZIP

 

Excise tax number ________________________________________

Part 2: Identify the seller or transferor

7

____________________________________________________

9

(

)

—

 

 

__________________________

 

 

 

Name

 

 

 

Daytime phone number

 

 

8

____________________________________________________

10

 

 

(

)

—

____________________________________________________

 

Home or mailing address

 

 

 

Name of seller’s or transferor’s attorney

Daytime phone number

 

____________________________________________________

11

____________________________________________________

 

City

State

ZIP

 

Address of attorney

 

 

Part 3: Identify the purchaser or transferee

12

____________________________________________________

14

____________________________________________________

 

Name

 

 

 

Purchaser’s or transferree’s IBT no. and FEIN

(

)

—

 

 

 

 

 

 

13

____________________________________________________

15

____________________________________________________

 

Home or mailing address

 

 

 

Name of purchaser’s or transferee’s attorney

 

Daytime phone number

 

____________________________________________________

16

____________________________________________________

 

City

State

ZIP

 

Address of attorney

 

 

 

Part 4: Describe the terms of sale or transfer

17Date business was or will be sold or transferred. ___/___/____

Month Day Year

18Selling price of the business or the value of the business assets transferred: $ ____________________

19Was the entire business sold or transferred? Yes

No - You must complete Line 20.

20Are the seller’s or transferee’s registration numbers with the

department to remain active? Yes

No - Write the date to be discontinued. ___/___/____

Month Day Year

21Terms of sale or transfer. Write “X” in the appropriate box, and provide additional information as requested.

 

Cash sale

 

 

Contract sale. Complete the following information:

•

Down payment amount:

$ ____________________

•

Monthly payment amount:

$ ____________________

•

Date last payment is due

___/___/____

Month Day Year

Conventional financing

Other (Specify.): ____________________________________

_________________________________________________

_________________________________________________

Part 5: Sign below. This must be completed by the person submitting this Form.

22

(

)

—

24 ____________________________________________________

Print or type your name

Daytime phone number

Signature

Date

23____________________________________________________

Mailing address of person

CBS-1 (R-4-09)

This form is authorized as outlined by the Illinois Income Tax Act [35 ILCS 5/902] and the Retailers’ Occupation Tax Act [35 ILCS 120/5j]. You are required to report all sales of businesses to the Illinois Department of Revenue. Disclosure of this information is REQUIRED. Failure to provide such information may result in the purchaser or transferee

becoming personally liable for the amount of tax owed by the seller. This form has been approved by the Forms Management Center.

IL-492-4224

How to Edit Cbs 1 Form Illinois Online for Free

Should you desire to fill out il form cbs 1 instructions, you don't have to download and install any kind of programs - simply use our online tool. To maintain our editor on the leading edge of convenience, we strive to implement user-oriented features and improvements on a regular basis. We're routinely grateful for any feedback - join us in revolutionizing PDF editing. It just takes a couple of easy steps:

Step 1: Click on the "Get Form" button at the top of this webpage to open our PDF editor.

Step 2: Once you launch the file editor, you will notice the form prepared to be completed. Aside from filling in different blanks, you can also perform various other things with the Document, specifically writing any text, editing the original text, inserting images, placing your signature to the document, and more.

As a way to complete this document, make sure that you provide the necessary information in each blank:

1. You will want to fill out the il form cbs 1 instructions correctly, therefore be attentive when working with the segments containing all of these blank fields:

Filling out part 1 in illinois department of revenue cbs 1 form

2. When the previous array of fields is completed, you have to add the needed specifics in Home or mailing address City, Name of purchasers or transferees, Daytime phone number, Address of attorney, State, ZIP, assets transferred, Part Describe the terms of sale, provide additional information as, Yes No Write the date to be, Cash sale Contract sale Complete, department to remain active, Yes No You must complete Line, Part Sign below This must be, and Daytime phone number so you can move forward further.

Home or mailing address City, Part Sign below This must be, and Cash sale Contract sale Complete of illinois department of revenue cbs 1 form

It's easy to make an error while completing the Home or mailing address City, and so make sure to take another look before you'll send it in.

Step 3: Immediately after proofreading the form fields you have filled in, click "Done" and you're good to go! Sign up with us now and immediately gain access to il form cbs 1 instructions, prepared for downloading. Every single change you make is conveniently kept , allowing you to change the file further as required. We do not share any information you type in whenever working with documents at our website.

Cbs 1 Form Illinois isn’t the one you’re looking for?

Related Documents