Illinois § 1405.6 Investor lists

Illinois Statutes

§ 1405.6 — Investor lists

Illinois § 1405.6

JurisdictionIllinois

TopicGOVERNMENT

Ch. 35REVENUE

Act 35 ILCS 5/Illinois Income Tax Act.

Art.Article 14 - Miscellaneous Provisions

This text of Illinois § 1405.6 (Investor lists) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

35 Ill. Comp. Stat. 1405.6 (2026).

Text

(a)Federal abusive tax shelter. Any person required to maintain a list under Section 6112 of the Internal Revenue Code shall furnish a duplicate of such list to the Department not later than the earlier of the time such list is required to be furnished to the Internal Revenue Service for inspection under Section 6112 of the Internal Revenue Code or the date of written request by the Department.

(b)(Blank).

(c)Transactions subject to this Section. The provisions of this Section apply to any reportable transaction having a nexus with this State. For lists that must be filed with the Department on or after January 1, 2008, a reportable transaction has nexus with this State if, at the time the transaction is entered into, the transaction has one or more investors that is an Illinois taxpaye

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(a) Federal abusive tax shelter. Any person required to maintain a list under Section 6112 of the Internal Revenue Code shall furnish a duplicate of such list to the Department not later than the earlier of the time such list is required to be furnished to the Internal Revenue Service for inspection under Section 6112 of the Internal Revenue Code or the date of written request by the Department. (b) (Blank). (c) Transactions subject to this Section. The provisions of this Section apply to any reportable transaction having a nexus with this State. For lists that must be filed with the Department on or after January 1, 2008, a reportable transaction has nexus with this State if, at the time the transaction is entered into, the transaction has one or more investors that is an Illinois taxpayer. For lists that must be filed with the Department prior to January 1, 2008, a reportable transaction has nexus with this State if, at the time the transaction is: (1) Organized in this State; (2) Doing Business in this State; or (3) Deriving income from sources in this State.