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Effective August 11, 2017, the Illinois State Treasurer is authorized to (at least annually) share with the Illinois Department of Revenue the names (and social security numbers, if available) of people who appear to own unclaimed property held by the State Treasurer. The Department shall notify the Treasurer if any of these people has filed an income tax return and will provide the last known address and any additional addresses of the person, except as prohibited by federal law. The Treasurer can deliver unclaimed property or pay the amount owed to someone if the following conditions are met:
 

  • The value of the property owed is $2000 or less;
  • The property is not tangible property or securities;
  • The last known address for the person according to Department records is less than 12 months old; and
  • The Treasurer has sufficient evidence that the person is the owner of the property and currently resides at the last known address.


If the unclaimed property has a value greater than $2000 or is tangible property or securities, the Treasurer will provide notice informing the person that he or she is the owner of unclaimed property and may file a claim with the Treasurer for the return of the property. (Public Act 100-0047 (HB 1808))
 

(11/28/2017)

Effective September 23, 2017, Wisconsin has enacted an exemption for prepared food sold by a retailer, if the prepared food meets the following conditions:

 

  • The prepared food is not candy, soft drinks, or dietary supplements;
  • The retailer manufactures the prepared food in a building that is assessed for Wisconsin property tax purposes as manufacturing property, or in a building that would be assessed as such if the building was located in Wisconsin;
  • The retailer makes no retail sales of prepared food at the building where the food is manufactured; and
  • Any of the following applies: The retailer freezes the prepared food prior to its sale and sells it at retail in a frozen state, and the prepared food is not sold with eating utensils that are provided by the retailer, or the prepared food consists of more than 50 percent yogurt.


(Act 59 (A.B. 64), Laws 2017, effective September 23, 2017)
 

(11/28/2017)

The Cook County Department of Revenue has provided guidance to sweetened beverage distributors and retailers regarding the close-out process for the Cook County sweetened beverage tax. The tax has been repealed effective December 1, 2017, and the last tax returns/payments will be due on December 20, 2017. In the case that on December 1, 2017 there is unsold product on which tax was previously remitted, the Department has provided the following guidelines:

 

  • Retailers who are not registered with the Department and paid tax to a distributor must apply for a credit/refund from their distributors. Distributors should require documentation to substantiate a retailer’s claim.
  • After providing a credit/refund to a retailer, a distributor can then take a credit on their final tax return or apply for a refund from the Department.
  • Retailers who are registered with the Department pursuant to Sweetened Beverage Tax Regulations 2017-1 and 2017-4 can take a credit on their final tax return or apply for a refund. Documentation supporting the credit/refund request must be submitted.
  • Retailers that have in their inventory specific products on which tax was paid via the floor tax return and have not been sold must submit a refund application to the Department. Supporting documentation must show that these specific products have remained in inventory and are the same products for which the floor tax was originally remitted.


The Department has developed new forms that can be used to assist with the credit/refund process: 2017 Sweetened Beverage Retailer Inventory Credit Request Form and Schedule A, and Sweetened Beverage Tax Distributor Credit Form Schedule.
 

The Department may request additional documentation from the business seeking a credit/refund. If the claim cannot be substantiated by adequate books and records, it will not be allowed. Any documents that record the basis for a credit/refund should be retained by retailers and distributors for seven years. For additional details on the close-out process and the forms mentioned above, visit the Cook County Sweetened Beverage Tax webpage. (Sweetened Beverage Tax Close-Out Process, Cook County Department of Revenue)

(11/28/2017)

As part of Wisconsin’s enacted budget bill, Wisconsin’s sales tax on internet access charges is repealed, effective July 1, 2020. Our previous news item Congress Approves Permanent Extension of Internet Tax Freedom Act details how an end date of June 30, 2020 was established for seven states (including Wisconsin) that imposed a tax on internet access. (Act 59 (A.B. 64), Laws 2017)

(11/27/2017)

Effective October 1, 2017, sales and purchases of orthotic devices, prosthetic devices, prostheses, restorative materials, and other dental devices are exempt from Louisiana state sales and use taxes. Previously, the exemption was partially suspended, resulting in a 3% tax rate being applied to these items. (Act 395 (S.B. 241), Laws 2017)

(11/27/2017)

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