Discussion:IL Corporate Annual Form

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Discussion Forum Index --> Basic Tax Questions --> IL Corporate Annual Form


Discussion Forum Index --> Tax Questions --> IL Corporate Annual Form

CathysTaxes (talk|edits) said:

27 November 2013
I did the yellow box and didn't come up with anything (except one post that advised not to reclass shareholders loans into APIC because the IL form uses Paid in capital to determine tax). I have TWO forms in front of me. Form C289 Domestic Corporation Annual Report that I downloaded from IL Secretary of State website and this partially filled in Corporate Annual Report form number CDBCAB.

The SOS website does not have instructions on how to fill out the form. I tried to find CDBCAB on the SOS website and it wasn't there. Since the president and the corporation have a new address, I would rather NOT use the form that IL SOS sent.

Has anyone run into this before?

And while I'm at it, since there isn't any instructions, I have two questions. 1) Paid In Capital - if this is supposed to be from the Articles of Incorporation, then I have a big $10 (yep ten dollars) to enter (silly client 'authorized 1000 shares' for a total of $10, he did it himself). 2) Value of property (gross assets) - is cash and receivables included in this or just actual physical property.

Nightsnorkeler (talk|edits) said:

27 November 2013
IL-SOS forms almost always are in the format "BCA-x.XXX" so I'm not exactly sure what you are looking at (UPDATE - the form you referenced appears to be the new form number, but same form as before). But...because the franchise fee is only .001 X capital and the minimum fee is $75, I have never run across a taxpayer owing more than the minimum fee.

We regularly update addresses of officers on the pre-filled forms, you just can't change the registered agent address.

Sorry, but because none of my clients ever exceeded the minimum fee based on capital we never had to even look at the asses calculation in item 9. We just always elected to pay tax on 100% of capital.

Hope this helps a little.

CathysTaxes (talk|edits) said:

27 November 2013
Thanks John. I've been trying since last night to get back to this forum. I did talk to SOS and they said the forms on the website is fine. So I did the form as you suggested, and filed the change of registered address form. The person I talked to told me to ignore question 9.

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