35 ILCS 195/3-5
Short title
Short title. This Article may be cited as the Digital Asset Tax Act. References in this Article to "this Act" mean this Article. (Source: P.A. 104-468, eff. 6-16-26.)
Illinois Compiled Statutes 35 ILCS 195 — Digital Asset Tax Act.
Illinois · statute · 35 ILCS 195 · 48 active provisions
Provisions
35 ILCS 195/3-15
Definitions
Definitions. In this Act: "Customer" means a person receiving digital asset business activity from a digital asset broker for valuable consideration. "Department" means the Department of Revenue. "Digital asset" has the meaning set forth in Section 1-5 of the Digital Assets and Consumer Protection Act. "Digital asset b…
35 ILCS 195/3-20
Tax imposed
Tax imposed. (a) Beginning January 1, 2027, a tax is imposed upon the privilege of receiving any digital asset business activity by a customer in this State at the rate of 0.2% of the value of the digital asset to which the digital asset business activity relates. It shall be the duty of the digital asset broker making…
35 ILCS 195/3-25
Sourcing
Sourcing. As used in this Act, the term "in this State" means at a physical location within this State for a sale occurring in person. For a sale occurring electronically or by phone, there shall be a rebuttable presumption that the customer requesting the sale is located in this State if the customer's contact informa…
35 ILCS 195/3-30
Registration of digital asset brokers
Registration of digital asset brokers. (a) It is unlawful for any person to engage in business as a digital asset broker in this State on or after January 1, 2027, without a certificate of registration from the Department. A digital asset broker shall register with the Department. Application for a certificate of regis…
35 ILCS 195/3-35
Collection of tax
Collection of tax. (a) Any digital asset broker maintaining a place of business in this State shall collect the tax imposed by this Act from the customer at the rate stated in Section 3-20 for the privilege of receiving digital asset business activity in this State and shall remit the tax to the Department as provided…
35 ILCS 195/3-40
Return and payment
Return and payment. (a) Each digital asset broker shall make a return to the Department on or before the 20th day of each month for the preceding calendar month stating the following: (1) the digital asset broker's name; (2) the address of the digital asset broker's principal place of business; (3) the amount of digita…
35 ILCS 195/3-45
Books and records
Books and records. Every digital asset broker required to file a return under this Act shall keep books, records, papers, and other documents that adequately reflect digital asset business activity sold in this State, including the information used in calculating the amount of tax due. Digital asset brokers are require…
35 ILCS 195/3-50
Deposits of proceeds The moneys received by the Department from the tax imposed by this Act shall be deposited into the General Revenue Fund
Deposits of proceeds The moneys received by the Department from the tax imposed by this Act shall be deposited into the General Revenue Fund. (Source: P.A. 104-468, eff. 6-16-26.)
35 ILCS 195/3-55
Criminal penalties
Criminal penalties. Any digital asset broker who fails to file a return, or who violates any other provision of this Act, or who fails to keep books and records as required by this Act, or who files a fraudulent return, or who willfully violates any rule or regulation of the Department for the administration and enforc…
35 ILCS 195/3-60
Department administration and enforcement
Department administration and enforcement. The Department shall have full power to administer and enforce this Act, to collect all taxes and penalties due hereunder, to dispose of taxes and penalties so collected in the manner hereinafter provided, and to determine all rights to credit memoranda, arising on account of…
35 ILCS 195/3-65
The Illinois Administrative Procedure Act
The Illinois Administrative Procedure Act. The Illinois Administrative Procedure Act is hereby expressly adopted and shall apply to all administrative rules and procedures of the Department under this Act, except that: (1) paragraph (b) of Section 5-10 of the Illinois Administrative Procedure Act does not apply to fina…
35 ILCS 195/3-70
Rulemaking
Rulemaking. The Department may adopt rules in accordance with the Illinois Administrative Procedure Act and prescribe forms relating to the administration and enforcement of this Act as it deems appropriate. (Source: P.A. 104-468, eff. 6-16-26.) (35 ILCS 195/Art. 5 heading) ARTICLE 5(Amendatory provisions; text omitted…
35 ILCS 195/65-5
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 7-1-26; text omitted.)
35 ILCS 195/65-10
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 7-1-26; text omitted.)
35 ILCS 195/70-5
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-10
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-15
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-20
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-25
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-30
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-35
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-40
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-45
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
35 ILCS 195/70-50
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 104-468, eff. 6-16-26; text omitted.)
Page 1 of 2Next →