Illinois Administrative Code
Title 86 - REVENUE
Part 130 - RETAILERS' OCCUPATION TAX
Subpart S - SPECIFIC APPLICATIONS
Section 130.1910 - Antiques, Curios, Art Work, Collectors' Coins, Collectors' Postage Stamps and Like Articles
Current through Register Vol. 48, No. 12, March 22, 2024
a) When Tax Applies
Sales of antiques, curios, art work, collectors' coins, collectors' postage stamps and like articles to art collectors, philatelists, numismatists or other persons who purchase such items of tangible personal property for use and not for resale are within the Retailers' Occupation Tax Act. Persons engaged in the business of selling these items of tangible personal property to purchasers for use or consumption are required to remit Retailers' Occupation Tax to the Department on their gross receipts from such sales.
b) Special Provisions Concerning Stamps
c) Special Provisions Concerning Coins
Gross receipts from the sales of legal tender, currency, medallions, or gold or silver coinage issued by the State of Illinois, the government of the United States of America, or the government of any foreign country, and bullion are exempt from Retailers' Occupation Tax.
d) Special Provisions Concerning Art Work
The sale of art work, even on a commissioned basis, is a transfer of tangible personal property subject to the Retailers' Occupation Tax. In order for the sale of art work not to be subject to Retailers' Occupation Tax, it must be of no commercial value to anyone other than the purchaser. An example of this type of art work might be a commissioned portrait of the purchaser. (For information regarding taxation of such art work, see the regulations for the Service Occupation Tax at 86 Ill. Adm. Code 140.)
e) Special Provisions Concerning Comic Books