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Prior to 2020 illinois did not collect a sales tax on a cars trade in value unless the vehicle was worth more than 20000.
Illinois car tax. At the time you apply for an illinois title with the secretary of state for a vehicle you purchased leased or acquired by gift or transfer you are required to submit either payment of tax or proof that no tax is due before your vehicle can be titled. You are allowed credit for sales taxes paid to another state. Illinois private party vehicle use tax step 6 line 1 other transaction types that may be reported on form rut 50 are listed below along with the required tax amount due. The purchaser is a tax exempt organization.
Illinois motor fuel tax increase went into effect july 1 doubling the state gas tax to 38 cents and making illinois pain at the pump no. Here the term vehicle refers to cars trucks vans motorcycles atvs. See form rut 25 for the appropriate rate if the address for the title or registration is in one of these counties. What is my tax obligation when i apply for title in illinois.
A license renewal sticker starts at 101. Use tax rates are 625 of the purchase price of general merchandise and 1 of the purchase price of qualifying food drugs and medical appliances. Include in your request your name and mailing. The vehicle use tax must be paid within 30 days and must be paid when you apply for a title or registration.
Vehicle use tax rut 25 and. Illinois tax on new and used vehicles is generally 625 but can vary by location. Form rut 50 is generally obtained when you license and title your vehicle at the local drivers license facility or currency exchange. The vehicle registration fee is 150.
Private party vehicle use tax. The vehicle use tax is the same rate as the sales tax. Illinois taxes vehicle purchases before rebates or incentives are applied to the price which means that the buyer in this scenario will pay taxes on the vehicle as if it cost the full 10000. Clair and madison counties have different sales tax rates.
Exemptions if one of the following exemptions applies the tax due is 0. If you need to obtain the forms prior to registering the vehicle send us an email request or call our 24 hour forms order line at 1 800 356 6302. 3 in the nation. Form rut 50 private party vehicle use tax transaction return.
Most counties in illinois have a 65 percent sales tax rate but cook dupage kane lake mchenry will st. The vehicle is a farm implement that is primarily used in production agriculture and is not. However if you pay tax to another state at less than the illinois rates you must pay illinois the difference.
