Anonymous asked in Business & FinanceTaxesUnited States · 1 decade ago

Tax paid on truck bought out of state now in IL?

Son given car by his father from another state. He now needs to transfer title and register it in IL. He purchased the truck for say $50....does he still have to pay tax on it also? I cant view the RUT 50 form online of course!

3 Answers

  • 1 decade ago
    Favorite Answer

    IL sales tax for private vehicle sales under $15,000 is based on model year of the vehicle. However, between immediate familiy members tax is $15.

    There is an example of RUT 50 in

    "Forms RUT-25 and RUT-50 for vehicle use tax are multi-part (carbon) forms and cannot be faxed or downloaded. These forms are generally obtained when you license and title your vehicle at the local driver's license facility or currency exchange.

    If you need to obtain the form prior to registering the vehicle, you can request copies to be mailed to you by calling the Illinois Department of Revenue's 24-hour Forms Order Hotline at 1-800-356-6302."

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  • 4 years ago

    You will have to pay taxes on the car BUT, it depends on how each state collects it's taxes. Some states (i.e. Wisconsin) can not collect taxes for another state. So if an out of state resident buys a vehicle in WI, no taxes are involved, they are issued a temporary WI license plate good for 30 days, and they will receive a WI title (WI is NOT a title holding state like Colorado). When they get the WI title, they go to the DMV of the state that they live in and pay their local taxes on the cash selling price of the vehicle and at that time the vehicle will be registered to that state. You will, however, ALWAYS pay taxes for where you live. If MO can collect taxes for IL, then you will pay IL taxes. If you are buying from a dealership, ask to speak with the finance manager to find out how IL deals with situations like that. If you are leasing a vehicle from another state, this is a totally different process because taxes are figured only on your payments in a lease and if you lease a vehicle, 95% of the time the leesor or leasing institution will keep the title.

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  • 1 decade ago

    There is no personal property tax in Illinois.

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