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What form must I file if I sell or purchase a business?

You (or the purchaser or transferee) must complete Form CBS-1, Notice of Sale, Purchase, or Transfer of Business Assets, if, outside your usual course of business, you sell or transfer the major part of:

  • the stock of goods that you are in the business of selling,
  • the furniture or fixtures,
  • the machinery and equipment, or
  • the real property of your business.

For more information, see the Form CBS-1 instructions.

Other Related Links

You may access additional information by searching the entire Illinois Department of Revenue website.

If you have additional inquiries, you may submit them on the Questions, Comments, or Requests form.