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How to Calculate Illinois Sales Tax on a Car. You can calculate the sales tax in Illinois by multiplying the final purchase price by .0625%. For example, let’s say that you want to purchase a new car for $30,000, you would use the following formula to calculate the sales tax: $30,000 x .0625= $1,875
The tax is imposed on motor vehicles purchased (or acquired by gift or transfer) from another individual or private party. (Sales of motor vehicles from registered Illinois dealers are taxed under the Retailers’ Occupation Tax Act.)
4 Οκτ 2024 · The statewide sales tax on vehicles in Illinois currently stands at 6.25% of the purchase price of the car. For example, if you buy a used car from a private party for $10,000, you’ll pay $625 in sales tax plus local (city and county) tax, depending on where you live in the state.
Enter the purchase price of your vehicle into the “Vehicle Purchase Price” field. Then, click on the “Calculate” button. The calculator will then compute and display the tax amount you need to pay according to Illinois state tax rates.
Ready to find out what your vehicle tax will be? Try our Illinois Vehicle Tax Calculator today and make your vehicle purchase in Illinois a breeze! Whether you’re in Chicago, Springfield, or anywhere in between, we’ve got you covered. Happy calculating!
8 Φεβ 2024 · You can calculate the total car sales tax in your area by using the online tax calculator tool on the Sales Tax Handbook website. You can get an estimate of the sales tax rate that will apply to your car purchase based on your purchase location ZIP code and purchase amount.
One of the following forms must be used to pay tax or prove that no tax is due: Form RUT-25, Vehicle Use Tax Transaction Return, due no later than 30 days after the date the vehicle is brought into Illinois or the date of purchase; or. Form RUT-25-LSE, Use Tax Return for Lease Transactions, due no later than 30 days after the date the vehicle ...
