86 Ill. Adm. Code 429.135
Books and Records
Section 429.135 Books and Records
a) Every
cultivation center
shall keep books and records of
all sales
of
medical cannabis
,
together with invoices, bills of lading, sales
records, copies of bills of sale,
monthly
inventories
,
inventories
prepared as of December 31 of each year, and other pertinent papers and documents
.
[35 ILCS 120/7]
b)
All
books and records and other papers and documents that are required by this
Section
and the Law
to be kept shall be kept in the English language and shall,
at all times during business hours of the day, be subject to inspection by the
Department or its duly authorized agents and employees
. [35 ILCS 120/7] Records
shall be maintained at the physical location of the cultivation center. All
books and records kept by a cultivation center pursuant to rules adopted by the
Illinois Department of Agriculture to implement the Act shall, at all times
during business hours of the day, be subject to inspection by the Department or
its duly authorized agents and employees. The Department shall also have
access to the cultivation center's automated data processing and/or point of
sale system.
c)
Books
and records and other papers reflecting gross receipts received during any
period with respect to which the Department is authorized to issue notices of
tax liability shall,
for purposes
of
this Part
,
be
preserved until the expiration of that period unless the Department, in
writing, authorizes their destruction or disposal prior to that expiration
.
[35 ILCS 120/7] However, if the Department allows a cultivation center to
destroy books and records prior to the expiration of the preservation period,
the cultivation center is not relieved of any obligation to maintain books and
records under any rule or regulation adopted by another State agency to
implement the Act.
d) Penalties
1)
Any
person who fails to keep books and records or fails to produce books and
records for examination, as required by this Section, is liable to pay to the
Department, for deposit into the Tax Compliance and Administration Fund, a
penalty of:
A)
$1,000
for the first failure to keep books and record's or produce books and records
for examination; and
B)
$3,000
for each subsequent failure to keep books and records or produce books and records
for examination.
2)
The
penalties imposed under this subsection (d) shall not apply if the taxpayer
shows that it acted with ordinary business care and prudence.
[35 ILCS
120/7]