Rental Purchase Agreement Occupation and Use Tax.

The document titled "Rental Purchase Agreement Occupation and Use Tax" provides information on the Rental Purchase Occupation Tax (RPOT) in Illinois. The tax is 6.25% of the rental price paid to the merchant under any rental purchase agreement. Merchants are responsible for collecting the tax from consumers and remitting it to the Department of Revenue. The document also outlines exemptions to the tax, the process for filing returns and making payments, and the registration requirements for merchants. Additionally, it discusses the regulations and procedures for the registration, renewal, and revocation of certificates of registration under the RPOT Act, as well as requirements for keeping books and records, penalties for non-compliance, and the administration and enforcement of the Act. [Extracted from the article]