First National Bank of Springfield v. Dep't of Revenue

After an audit was conducted by defendant, the Department of Revenue, a deficiency tax assessment was asserted against the plaintiff, the First National Bank of Springfield. Liability for the deficiencies was alleged to be due under the Use Tax Act (Ill. Rev. Stat. 1977, ch. 120, pars. 439.1 to 439.22), the Retailers’ Occupation Tax Act (Ill. Rev. Stat. 1977, ch. 120, pars. 440 to 453), and the Municipal Retailers’ Occupation Tax Act (Ill. Rev. Stat. 1977, ch. 24, par. 8 — 11—1). The plaintiff protested the assessment and, after a hearing, the Department issued a final deficiency assessment…