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    Illinois Department of Revenue

    CBS-1 Notice of Sale, Purchase, or Transfer of Business Assets

Step 1:  Identify the business, business assets, or business property being sold or transferred
  Business name: 
  Street address of business or property being sold: 
  
  Illinois Account ID:                                                  FEIN or          SSN: 
  If the selling entity is a disregarded entity, provide the Illinois Account ID number of 
 the entity responsible for filing tax returns with the Illinois Department of Revenue.
  Is the entire business being sold or transferred?   Yes               No
  If the entire business is being sold or transferred, see the instructions to Form CBS-1 for further information. If the entire 
 business is not being sold or transferred, indicate below what assets are being sold or transferred:
    stock of goods that you are in the business of selling, or
   any of the following:
     furniture or fixtures,
      machinery and equipment, or
     real property.

Step 2: Identify the seller or transferor
 Name of seller or transferor: 
 Home or current mailing address: 
  
 Daytime phone number:                                                Email: 
 Name of seller’s or transferor’s attorney: 
 Attorney’s address: 
  
 Attorney’s phone number:                                             Email: 

Step 3: Identify the purchaser or transferee
 Name of purchaser or transferee: 
                                                                        FEIN or          SSN: 
 Home or current mailing address: 
  
 Daytime phone number:                                                Email: 
 Name of purchaser’s or transferee’s attorney: 
 Attorney’s address: 
  
 Attorney’s phone number:                                             Email: 

Step 4: Describe the terms of sale or transfer
  Date of sale or transfer (closing date): 
  Purchase price: 
  Other consideration for the sale or transfer, if no purchase price: 
    This form is authorized as outlined under the tax or fee Act imposing the tax or fee for which this form is filed. You are required to report all sales of businesses to the Illinois Department of Revenue. 
    Disclosure of this information is REQUIRED. Failure to provide such information may result in the purchaser or transferee becoming personally liable for the amount of tax owed by the seller.      
CBS-1 (R-04/24)                                                                                      Page 1 of 2

Step 4 — Continued
  Provide a detailed description of the other consideration: 
  
  Reasonable value of property acquired: 
  Check the appropriate box to indicate the payment terms of the sale or transfer:
     Lump sum payment in cash
     Multiple installments. Complete the following :
     •  Down payment amount: 
     •  Periodic payment amount: 
     •  Number of payments: 
     •  Frequency of payments: 
     •  Date that final payment is due: 
 You must submit with your Form CBS-1 a copy of the sales contract and financing agreements containing the following 
 information:
 •  a description of the property being sold,
 •  the amount of the purchase price or a statement of other consideration for the sale or transfer,
 •  the terms for payment of the purchase price, and
 • signatures of the purchaser or transferee and seller or transferor.

Step 5: Provide contact information for each additional person that should receive copies of 
        correspondence related to this notice of sale, purchase, or transfer
 Name of first additional person: 
 Home or mailing address: 
  
 Daytime phone number:                                        Email: 
  Check the appropriate box to indicate the party with whom this person is associated:
     Purchaser or transferee        Seller or transferor
 Name of second additional person: 
 Home or mailing address: 
  
 Daytime phone number:                                        Email: 
  Check the appropriate box to indicate the party with whom this person is associated:
     Purchaser or transferee        Seller or transferor

Step 6: Identify yourself (the person submitting the form)
 Name of person submitting this Form CBS-1: 
 Title: 
 Mailing address: 
  
 Daytime phone number:                                        Email: 
  Check the appropriate box to indicate the party with whom this person is associated:
     Purchaser or transferee        Seller or transferor
  Email your completed Form CBS-1, and any attachments, to REV.bulksales@illinois.gov, fax it to 217 785-2635, or mail it 
 to: BULK SALES UNIT, ILLINOIS DEPARTMENT OF REVENUE, PO BOX 19035, SPRINGFIELD IL 62794-9035.
CBS-1 (R-04/24)                    Printed by the authority of the State of Illinois — Web only, One copy    Page 2 of 2
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