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2015 Income Tax Letter Rulings

General Information Letters

Ruling
Date
Subject Synopsis
IT 15-0017-GIL 12/14/2015 Credits Credits – Other Rulings – General Information. Documentation required to support a claim for the credit for hiring unemployed veterans.
IT 15-0016-GIL 10/29/2015 Compensation  
IT 15-0015-GIL 10/29/2015 Nexus Nexus issues are not generally suitable for resolution by letter ruling.
IT 15-0014-GIL 09/15/2015 Alternative Apportionment Petition to use separate accounting cannot be granted merely because separate accounting reaches a different tax liability than the statutory apportionment method.
IT 15-0013-GIL 09/15/2015 Alternative Apportionment Petition to use separate accounting cannot be granted merely because separate accounting reaches a different tax liability than the statutory apportionment method.
IT 15-0012-GIL 09/15/2015 Alternative Apportionment Petition to use separate accounting cannot be granted merely because separate accounting reaches a different tax liability than the statutory apportionment method.
IT 15-0011-GIL 09/08/2015 Exempt Organizations Exempt organizations that do not have unrelated business taxable income are not subject to Illinois income tax.
IT 15-0009-GIL 08/31/2015 Subtraction Modification - Other Rulings No subtraction modification is allowed for refund of state taxes included in corporation’s federal taxable income.
IT 15-0008-GIL 08/04/2015 Subtraction Modification– Pensions Distributions from a qualified profit-sharing plan under IRC Section(a) may be subtracted from adjusted gross income whether or not rolled over into a Roth IRA.
IT 15-0007-GIL 07/14/2015 Compensation Compensation of an employee performing services in multiple states is sourced entirely to the state in which the employee’s base of operations is located.
IT 15-0006-GIL 07/13/2015 Sales Outside the Ordinary Course of Business (Bulk Sales) Bulk sales reporting is not required for repossessions of collateral.
IT 15-0005-GIL 07/10/2015 Subtraction Modification The Illinois Income Tax Act does not allow or require modifications to the attribute reductions made for federal income tax purposes as the result of excluding discharge of indebtedness income from taxable income.
IT 15-0004-GIL 05/27/2015 Compensation Payments received in settlement of claims brought by former employee against employer are compensation sourced under IITA Section 304(a)(2)(B).
IT 15-0003-GIL 05/07/2015 Credits – Foreign Tax Compensation paid in Illinois under IITA Section 304(a)(2)(B) does not qualify for the credit for taxes paid to other states.
IT 15-0002-GIL 03/27/2015 Partnerships Seat on an exchange is not a qualified investment securities or “equipment reasonably necessary to carry on” the activities of an investment partnership, but deposits insured by the Securities Investment Protection Corporation are qualified investment securities.
IT 15-0001-GIL 02/24/2015 Subtraction Modifications – Military Personal service income earned by a nonresident who is in Illinois only because the nonresident’s spouse is a member of the military stationed in this State is exempt from Illinois income tax by the Servicemembers Civil Relief Act. (This is a GIL.)

Private Letter Rulings

Ruling Date Subject Synopsis
IT 15-0001-PLR 07/13/2015 Credits Various issues related to the credits for costs of restoring and preserving historical properties in a River Edge Redevelopment Zone addressed.