A bulk sales notification must be filed by either the seller/transferor or the buyer/transferee no less than 45 days prior to the sale or transfer of a.) the business or activity that requires the person to file a return or remit a tax or be licensed by the city; or b.) a major part of the assets of the business or activity; or c.) other than in the ordinary and usual course of business, a major part of any one or more of the following assets: the stock of goods or inventory of the person, furniture or fixtures, machinery or equipment, or real property. Both the seller and buyer must state their names, description of the business property, the amount of the sale or transfer price, and other information the Department may request. Within 30 days after the sale or transfer, the seller has to file and pay any tax due through the date of sale or transfer. The purchaser becomes jointly liable with the seller for any unpaid prior tax due if a bulk sales notice is not timely filed.
For any inquires regarding filing a Bulk Sale Notice, please call Jamesine Braxton at 312-747-1961. Click the following link for a Bulk Sales Notification Form.
Download this form to file the Bulk Sales Notice