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us il code 35 p9

(35 ILCS 5/404) (from Ch. 120, par. 4-404) Sec. 404. Reallocation of Items. (a) If it appears to the Director that any agreement, understanding or arrangement exists between any persons which causes any person's base income allocable to this State to be improperly or inaccurately reflected, the Director may adjust such items of income and deduction, and any factor taken into account in allocating income to this State, to such extent as may reasonably be required to determine the base income of such person properly allocable to this State. (b) The Director may not make an adjustment to base income under this Section that has the same effect as retroactively applying any amendments to this Act made by Public Act 93-0840, Public Act 95-0233, or Public Act 95-0707. (Source: P.A. 95-948, eff. 8-29-08.)

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statutes/35/5/404.yaml

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Rules

director_reallocation_adjustment_authorized

Derived

source: 404(a), 404(b)

- name: director_reallocation_adjustment_authorized
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 404(a), 404(b)
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-il/statute/35/5/404
            excerpt: any agreement, understanding or arrangement exists between any persons
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-il/statute/35/5/404
            excerpt: >-
              causes any person's base income allocable to this State to be improperly or
              inaccurately reflected
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-il/statute/35/5/404
            excerpt: >-
              to such extent as may reasonably be required to determine the base income of such
              person properly allocable to this State
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-il/statute/35/5/404
            excerpt: >-
              may not make an adjustment to base income under this Section that has the same effect
              as retroactively applying any amendments
  versions:
    - effective_from: '2008-08-29'
      formula: >-
        agreement_understanding_or_arrangement_exists_between_persons

        and
        arrangement_causes_base_income_allocable_to_illinois_to_be_improperly_or_inaccurately_reflected

        and adjustment_reasonably_required_to_determine_base_income_properly_allocable_to_illinois

        and not adjustment_has_same_effect_as_retroactively_applying_public_act_amendments