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Instructions for Form CBS-1 Notice of Sale, Purchase, or Transfer of Business Assets - Illinois
This document contains official instructions for Form CBS-1 , Notice of Sale, Purchase, or Transfer of Business Assets - a form released and collected by the Illinois Department of Revenue. An up-to-date fillable Form CBS-1 is available for download through this link.
FAQ
Q: What is Form CBS-1?A: Form CBS-1 is a notice form used in Illinois for reporting the sale, purchase, or transfer of business assets.
Q: Who needs to file Form CBS-1?A: The seller, purchaser, or transferee of business assets needs to file Form CBS-1.
Q: When should Form CBS-1 be filed?A: Form CBS-1 should be filed within 30 days of the sale, purchase, or transfer of business assets.
Q: What information is required on Form CBS-1?A: Form CBS-1 requires information about the parties involved, the details of the transaction, and other relevant information.
Q: Are there any fees for filing Form CBS-1?A: No, there are no fees for filing Form CBS-1.
Q: What are the consequences of not filing Form CBS-1?A: Failure to file Form CBS-1 may result in penalties or fines imposed by the Illinois Department of Revenue.
Instruction Details:
- This 1-page document is available for download in PDF;
- Actual and applicable for the current year;
- Complete, printable, and free.
Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the Illinois Department of Revenue.
