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What is a Reg 1 form Illinois?

REG-1 - Illinois Business Registration Application.

What is the bulk sale law in Illinois?

In Illinois, various Bulk Sales Acts impose an obligation on purchasers of a business or a major portion of the assets of a business, which can include the transfer of real estate, for certain unpaid taxes and even debts for which the seller of such property was responsible.

How do I get a sellers permit in Illinois?

There are two ways to register for a sales tax permit in Illinois, either by paper application or via the online website. We recommend submitting the application via the online website as it will generally be processed faster and you will receive a confirmation upon submission.

What is CBS 1 in Illinois?

You (or the purchaser or the transferee) must complete Form CBS-1 if, outside your usual course of business, you sell or transfer the major part of the stock of goods that you are in the business of selling, furniture or fixtures, machinery and equipment, or real property of your business.

Is an Illinois certificate of registration the same as a resale certificate?

You cannot use your Certificate of Registration or License by itself to purchase items exempt from tax. You must complete a CRT-61, Certificate of Resale, which is a statement that the property you purchase is for purposes of resale. You may use other forms or statements in place of Form CRT-61.

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