Illinois Administrative Code
Title 86 - REVENUE
Part 180 - AUTOMOBILE RENTING OCCUPATION TAX
Subpart B - GROSS RECEIPTS, AUTHORIZED DEDUCTIONS AND NON-TAXABLE TRANSACTIONS
Section 180.120 - The Meaning of Gross Receipts
Current through Register Vol. 48, No. 38, September 20, 2024
a) "Gross receipts" means all consideration received by a rentor as the rental price for the rental of automobiles under lease terms of one year or less. Where a rentor receives the rental price in installment payments, the rentor shall include the amounts of such payments only as and when the payments are received by the rentor.
b) All consideration received as the rental price must be included in gross receipts whether received in money or otherwise, including cash, credits, property and services. (Ill. Rev. Stat. 1981, ch. 120, par. 1702.)
c) There is no deduction from gross receipts on account of the cost of the property rented, the cost of materials used, labor or service cost or any other expense whatever.
