SB3282 Summary

• Amends the Retailers' Occupation Tax Act to add an annual review requirement for Direct Pay Permit holders, effective March 31, 2025
• Requires permit holders to review purchases made during the prior 12-month period to verify correct sourcing and tax rates, with amended returns due by April 20 if errors are found
• Imposes a $6,000 penalty to the Tax Compliance and Administration Fund for permit holders failing to properly verify and correct sourcing and tax rate errors, unless at least 95% of transactions are correctly sourced or the holder exercised ordinary business care
• Authorizes the Department to adopt rules to administer the penalties under this provision