For decedents dying prior to 2017, see the Returns previously posted on the Estate Tax page of the Attorney General's website
covering the specific year of death.
For persons dying in 2017, the Federal exemption for Federal estate tax purposes is $5,490,000. The exclusion amount for Illinois
estate tax purposes is $4,000,000. The exclusion amount operates as a taxable threshold and not as a credit against tax due. If an
estate’s gross value exceeds $4 million after inclusion of adjusted taxable gifts, an Illinois Form 700 must be filed, whether or not a
federal return is required by the Internal Revenue Service. The estate representative should prepare and submit the Illinois Form 700
with a Federal Form 706, including all schedules, appraisals, wills, trusts, attachments, etc. If an estate is not federally taxable and
does not wish to submit a Form 706, the information may be presented in an alternate format as long as all necessary information is
included. The Illinois estate tax will be determined using an interrelated calculation for 2017 decedents. The calculator at the Illinois
Attorney General’s website (www.illinoisattorneygeneral.gov) may be used for this computation. To determine tax due, insert the
amounts from Lines 3 and 5 of Schedule A or B, Form 700. Please note that the Calculator will not perform the computation unless
amounts are entered into both fields.
When the tentative taxable estate plus adjusted taxable gifts exceeds $5,490,000 the Illinois Estate Tax Return, Form 700, must
include a copy of the Federal Form 706 with all schedules and attachments.
For both resident and nonresident decedents, a preliminary tax prior to apportionment should be calculated assuming all assets are
located within Illinois. (Line 6, Schedule A or B, Form 700). The apportioned tax can then be determined by multiplying that figure by
the ratio of Illinois assets to total assets.
Illinois QTIP election (Qualified Terminable Interest Property)
:
MAXIMUM AMOUNT ALLOWED FOR 2017 IS $1,490,000.00.
For persons dying January 1, 2009 and after, the estate may make a QTIP election for Illinois purposes which is in addition to any
Federal QTIP election. The Illinois QTIP must be elected on a timely filed Illinois return by checking the election box (pg. 2, box 4),
inserting the dollar amount of the QTIP election, and providing the social security number of the surviving spouse. An itemized list of
property included in the Illinois QTIP should be submitted with the return. If this includes trust property, state the percentage of the
trust made subject to the election. The Illinois QTIP election will follow Federal statutes and rules for treatment of such elected
property passing to the surviving spouse and inclusion for Illinois purposes on any Illinois Estate Tax Return of the surviving spouse,
except as to the application of the Illinois Religious Freedom Protection and Civil Union Act to parties of a civil union for Illinois
estate tax purposes.
THIS RETURN MUST BE FILED WITH THE ILLINOIS ATTORNEY GENERAL WITHIN NINE (9) MONTHS OF THE DATE OF
DEATH. For Cook, DuPage, Lake, and McHenry Counties, file the original of the return with the Office of the Attorney General,
Revenue Litigation Bureau, 100 West Randolph Street, 13th Floor, Chicago, Illinois 60601. For all other counties, file the original of
the return with the Office of the Attorney General, Revenue Litigation Bureau, 500 South Second Street, Springfield, Illinois 62701.
PAYMENT OF ALL TAXES, INTEREST AND PENALTIES MUST BE MADE PAYABLE TO THE ILLINOIS STATE TREASURER WITH
THE “ILLINOIS STATE TREASURER ESTATE TAX PAYMENT FORM” AT THE ADDRESS DESIGNATED THEREIN.
ALL PAYMENTS MUST BE MAILED TO OR DEPOSITED WITH THE STATE TREASURER IN ORDER TO BE CREDITED WITH
TIMELY PAYMENT.
STATE OF ILLINOIS ESTATE & GENERATION SKIPPING TRANSFER TAX RETURN - PAGE 5
FILING AND PAYMENT INSTRUCTIONS
Printed by authority of the State of Illinois. (Revised 09/17)
