Instructions for Form ST-556-LSE Transaction Return for Leases - Illinois

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Instructions for Form ST-556-LSE Transaction Return for Leases - Illinois

This document contains official instructions for Form ST-556-LSE , Transaction Return for Leases - a form released and collected by the Illinois Department of Revenue.

FAQ

Q: What is Form ST-556-LSE?A: Form ST-556-LSE is a transaction return form used for reporting leases in Illinois.

Q: Who should file Form ST-556-LSE?A: Anyone who leases tangible personal property in Illinois should file Form ST-556-LSE.

Q: What information is required on Form ST-556-LSE?A: Form ST-556-LSE requires information such as the lessor and lessee details, lease start and end dates, and the total lease amount.

Q: When should Form ST-556-LSE be filed?A: Form ST-556-LSE should be filed within 20 calendar days after the lease commences or within 20 calendar days after the total lease amount exceeds $10,000, whichever occurs first.

Q: Are there any penalties for late filing of Form ST-556-LSE?A: Yes, there are penalties for late filing of Form ST-556-LSE, ranging from $100 to $500 depending on the length of delay.

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Instruction Details:

  • This 3-page document is available for download in PDF;
  • Actual and applicable for the current year;
  • Complete, printable, and free.

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