Get IL 700 2021-2022
6. Full amount computed for Illinois Estate Tax from website calculator before apportionment Lines 3 5 from this Form 700 and applied to website calculator for interrelated calculation.. In such situations the estate representative is to prepare and file the Illinois Estate Tax Return Form 700 together with a Federal Form 706 Federal Estate Tax Return or any other form containing the same information even though the Federal return is not required to be filed with the Internal Revenue Service. Illinoisattorneygeneral.gov. The computations are based upon using the amounts of the Illinois Tentative Taxable Estate Line 3 Schedule A or B Form 700 and the When the tentative taxable estate plus adjusted taxable gifts exceeds 5 430 000 the Illinois Estate Tax Return Form 700 must include a copy of the Federal Form 706 with all schedules and attachments. Line 6 Schedule A or B Form 700. The percentage of Illinois assets to total assets is then computed with the percentage applied to the tax Federal Q TIP election. The Illinois Q TIP must be elected on a timely filed Illinois return by checking the election box inserting the dollar amount of the Q TIP election and providing the social security number of the surviving spouse. FORM 700 STATE OF ILLINOIS ESTATE GENERATION SKIPPING TRANSFER TAX RETURN FOR DECEDENTS DYING ON OR AFTER JANUARY 1 2015 Estate of of Estate Date of Death Decedent s Address No. Street City State Decedent s Social Security Number Name of Illinois County with Jurisdiction over Estate Name of Personal Representative or Person Filing Return Zip Code Telephone Address No. Street Name of Preparer Indicate which of the following SIX is applicable 1. Of the Will of the decedent. Signature of decedent s personal representative Title Date Signature of preparer NOTE All attachments must be filed with the Attorney General s copy of the return. If a Certificate of Discharge is requested a copy of the Form 700 must be filed with the State Treasurer. SCHEDULE A Resident Decedent s Estate Instructions on page 5. 1. Tentative Taxable Estate from Federal Return Line 3a Form 706 or other form containing the same information. 2. Illinois QTIP election Additional amount in excess of Federal QTIP included in Line 2 Form 706 from this estate or from the previous QTIP election in the Spouse s estate. Neither a Federal Estate Tax Return nor Illinois Estate Tax Return is required to be filed but a Certificate of Discharge is requested* a Assets with taxable situs in Illinois. c TOTAL Gross Value of Decedent s Assets. Attach itemized schedule of assets wherever located* Gross value means the total of the assets undiminished by mortgages liens or other encumbrances upon such assets for which decedent was personally liable. 2. A Federal Estate Tax Return is attached but no Illinois Estate Tax is due. not a Federal Estate Tax is due and an Illinois Estate Tax is due. A Certificate of Discharge is requested* Complete Recapitulation and Schedule A or B whichever is applicable.
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