A. If a retailer does not collect the tax imposed by this chapter from the purchaser, then the purchaser shall file a return on a form prescribed by the comptroller and pay the tax directly to the city department on or before the last day of the calendar month following the month that the titled personal property was purchased.
B. 1. Pursuant to Section 3-55(b) of the Illinois Use Tax Act, as amended, and Section 3-28-031 of this chapter, if a purchaser of titled personal property leases the property to an interstate carrier for-hire under a lease for one year or longer and the lease is executed or in effect at the time of purchase, then the use of that property by the interstate carrier for-hire is exempt from the tax imposed by this chapter.
2. When the use of the titled personal property described in subsection B.1. of this section reverts to the lessor, the lessor shall file a return with the city department and pay the tax imposed by this chapter based upon the fair market value of the property as of the date of the reversion. The return shall be filed and the tax paid on or before the last day of the month following the calendar month in which the reversion occurred.
C. Notwithstanding any other provision of this chapter, for all periods beginning on or after January 1, 2000, (1) all tax returns shall be filed with the department on an annual basis on or before August 15 of each year in accordance with Sections 3-4-186 and 3-4-189 of this Code, (2) all tax payments shall be made in accordance with either Section 3-4-187 (payment of actual tax liabilities) or Section 3-4-188 (payment of estimated taxes), and (3) the provisions of Sections 3-4-186, 3-4-187, 3-4-188 and 3-4-189 shall control over any contrary provisions in this chapter regarding the subjects covered by those sections.
(Added Coun. J. 11-10-94, p. 59125; Amend Coun. J. 11-17-99, p. 18040, § 1.2; Amend Coun. J. 11-16-11, p. 13798, Art. I, § 3)