If an employing unit not otherwise liable elects to become an employer under the Act, and election is approved as of a date other than January 1 of any calendar year, the first payment shall include the contributions with respect to all wages for employment paid on or after the date stated in such approval, and up to and including the last day of the quarter in which such election is approved.
Ill. Admin. Code tit. 56, § 2765.20