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Notice Of Sale Purchase Or Transfer Of Business Assets CBS-1 - Illinois
| Notice Of Sale Purchase Or Transfer Of Business Assets Form. This is a Illinois form and can be used in Department Of Revenue Secretary Of State . |
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Illinois Department of Revenue CBS-1 Notice of Sale, Purchase, or Transfer of Business Assets General information 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. Forms received more than 10 days after the sale date will not be processed. The purchaser or transferee may be held liable for any debt incurred by the seller. If you need additional information, you may call our Chicago office weekdays between 8:30 a.m. and 5:00 p.m. at 312 814-3063. Mail your completed Form CBS-1, a copy of the sales contract, and financing agreement to: BULK SALES UNIT ILLINOIS DEPARTMENT OF REVENUE 100 WEST RANDOLPH LEVEL 7-400 CHICAGO IL 60601 You may fax your form and sales contract to us at 312 793-3841. Part 1: Identify the business being sold or transferred and the identification numbers 1 ____________________________________________________ Business name 3 4 5 _______________________________________ Illinois business tax number (IBT no.) or account identification number 2 ____________________________________________________ Street address ___ ___-___ ___ ___ ___ ___ ___ ___ ___ ___ ___ Federal employer identification number (FEIN) Social Security number Seq. number ____________________________________________________ Street address (if needed) ___ ___ ___-___ ___-___ ___ ___ ___ Yes No Excise tax number ________________________________________ ____________________________________________________ City State ZIP 6 Are you required to pay any excise taxes? Part 2: Identify the seller or transferor 7 ____________________________________________________ Name ) -- 9( __________________________ Daytime phone number 8 ____________________________________________________ Home or mailing address 10 ____________________________________________________ Name of seller's or transferor's attorney Daytime phone number ( ) -- ____________________________________________________ City State ZIP 11 ____________________________________________________ Address of attorney Part 3: Identify the purchaser or transferee 12 ____________________________________________________ 14 ____________________________________________________ Name Purchaser's or transferree's IBT no. and FEIN Name of purchaser's or transferee's attorney State ZIP Address of attorney 13 ____________________________________________________ Home or mailing address 15 ____________________________________________________ Daytime phone number ( ) -- ____________________________________________________ City 16 ____________________________________________________ Part 4: Describe the terms of sale or transfer 17 Date business was or will be sold or transferred. ___/___/____ 21 Terms of sale or transfer. Write "X" in the appropriate box, and Month Day Year provide additional information as requested. 18 Selling price of the business or the value of the business assets transferred: $ ____________________ 19 Was the entire business sold or transferred? Yes No - You must complete Line 20. 20 Are the seller's or transferee's registration numbers with the department to remain active? Yes No - Write the date to be discontinued. ___/___/____ Month Day Year Cash sale Contract sale. Complete the following information: · Down payment amount: $ ____________________ · Monthly payment amount: $ ____________________ ___/___/____ · Date last payment is due Month Day Year Conventional financing Other (Specify.): ____________________________________ _________________________________________________ _________________________________________________ Part 5: Sign below. The must be completed by the person submitting this Form. ( ) -- 22 ____________________________________________________ Print or type your name Mailing address of person Daytime phone number 24 ____________________________________________________ Signature Date 23 ____________________________________________________ CBS-1 (R-4-09) This form is authorized as outlined by the Illinois Income Tax Act [35 ILCS 5/902] and the Retailers' Occupation Tax Act [35 ILCS 120/5j]. You are required to report all sales of businesses to the Illinois Department of Revenue. Disclosure of this information is REQUIRED. Failure to provide such information may result in the purchaser or transferee becoming personally liable for the amount of tax owed by the seller. This form has been approved by the Forms Management Center. IL-492-4224 American LegalNet, Inc. www.FormsWorkFlow.com
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