Partnerships, trusts, and S corporations pay a 1.5 percent replacement tax on their net Illinois income. Any person who is authorized to sign Form IL-1065 or Form.IL-1120-ST may sign this form. Your Property Tax Bill. Note: File PTAX-203-A, Illinois Real Estate Transfer Declaration. The Illinois Constitution currently only authorizes the taxation of "real property" and forbids the taxation of "personal property. In New York State, or owns or leases tangible personal property in the State, the purchaser is required to be registered for New York State sales tax. ➢These income tax payments are not distributed to the PPRT Fund. This site has been developed as a convenience to those who are interested in viewing the status of property tax payments and assessments. Upon redemption, the Clerk's office notifies the tax buyer that they no longer have a personal stake in the property.
