Illinois DOR Publishes Informational Bulletin on Electronic Filing Requirements for Sales Tax Forms ST-556, ST-556-LSE

The Illinois Department of Revenue (DOR) Nov. 1 published an informational bulletin on electronic filing requirements for retailers of motor vehicles, watercraft, aircraft, and trailers, for sales and use tax purposes. The DOR provides that effective Jan. 1, 2023, a retailer is required to electronically file Form ST-556, Sales Tax Transaction Return, and Form ST-556-LSE, Transaction Return for Leases, and any related attachments if a retailer’s annual gross receipts average $20,000 or more. The bulletin includes information on: 1) disallowance of a discount or retailer’s allowance provided for a timely filing and payment on failure to file electronically; 2) a ...