{"data":{"id":"us-il/35-ilcs-195-3-40","jurisdiction":"us-il","citation":"35 ILCS 195/3-40","heading":"Return and payment.","body":"(a) Each digital asset broker shall make a return to the Department on or before the 20th day of each month for the preceding calendar month stating the following:\n(1) the digital asset broker's name;\n(2) the address of the digital asset broker's principal place of business;\n(3) the amount of digital asset business sales made by the digital asset broker during the preceding calendar month;\n(4) the amount of tax due, computed as set forth in this Act;\n(5) the signature of the digital asset broker; and\n(6) such other information as the Department may reasonably require.\n(b) All returns required to be filed and payments required to be made under this Act shall be by electronic means in the form and manner authorized by the Department.\n(c) Any amount that is required to be shown or reported on any return or other document under this Act shall, if such amount is not a whole-dollar amount, be increased to the nearest whole-dollar amount if the fractional part of a dollar is $0.50 or more and decreased to the nearest whole-dollar amount if the fractional part of a dollar is less than $0.50. If a total amount of less than $1 is payable, refundable, or creditable, such amount shall be disregarded if it is less than $0.50 and shall be increased to $1 if it is $0.50 or more.\n(d) A digital asset broker who ceases to engage in the kind of business which makes the person responsible for filing returns under this Act shall file a final return under this Act with the Department not more than one month after discontinuing such business.\n(e) If any payment provided for in this Section exceeds the digital asset broker's liabilities under this Act, as shown on an original monthly return, the Department shall, if requested by the digital asset broker, issue to the digital asset broker a credit memorandum no later than 30 days after the date of the request. The credit evidenced by such credit memorandum may be assigned by the digital asset broker to a similar digital asset broker under this Act, in accordance with reasonable rules and regulations to be prescribed by the Department. If no such request is made, the digital asset broker may credit such excess payment against tax liability subsequently to be remitted to the Department under this Act, in accordance with reasonable rules and regulations prescribed by the Department. If the Department subsequently determines that all or any part of the credit taken was not actually due to the digital asset broker, that digital asset broker shall be liable for penalties and interest on such difference.\n(f) If a digital asset broker fails to sign a return within 30 days after the proper notice and demand for signature by the Department is received by the digital asset broker, the return shall be considered valid, and any amount shown to be due on the return shall be deemed assessed.","path":["CHAPTER 35 REVENUE","Digital Asset Tax Act."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=4683\u0026ChapterID=8\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:20Z","sha256":"845afa135292e285f5ca473135fc6b8df966de7d6202bb7422e7061357e3f0cd","source_id":"us-il","stale":false,"prev":"us-il/35-ilcs-195-3-35","next":"us-il/35-ilcs-195-3-45"},"notice":"GroundRules: Original legal text. Not legal advice."}