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Taxes on land sale
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mbrother11
Posted 6/15/2014 13:58 (#3920120)
Subject: Taxes on land sale


Hi, recently sold farmland in Illinois on a 5-yr contract. Now I am moving to South Carolina. I am told (by Ill Dept of Revenue) that I have to continue to pay income tax to Illinois on the contract payments as I continue to receive them (as they include capital gains).

I know I have to pay income taxes somewhere...but I can't find anywhere that says I owe it to Illinois once I am no longer a citizen of Illinois....does anyone know how I can verify this?

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