Question about *sales tax* - Chicagoland Sportbikes
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post #1 of 8 (permalink) Old 09-03-2003, 10:56 AM Thread Starter
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Question about *sales tax*

In IL, if buying a used mode of transportation, like a motorcycle, atv or snowmobile, are you required to pay sales tax on the purchase?

If you are.. If buying from a private party, can they write up a bill of sale for next to no $$ so youre sales tax is nothing?

Would the state or DMV have a red flag go up if they saw a machine that is worth $5,000 being sold for $100..would they call you on it?

Im not sure Im explaining this corretly but...

Mike

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post #2 of 8 (permalink) Old 09-03-2003, 11:02 AM
 
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The tax for purchasing a motorcycle from a private party is $25. I don't think there is a county sales tax.
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post #3 of 8 (permalink) Old 09-03-2003, 11:05 AM Thread Starter
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its actually a ATV

so its a flat rate not a percentage ?

Mike

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post #4 of 8 (permalink) Old 09-03-2003, 11:46 AM
 
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Yes, its a flat rate.
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post #5 of 8 (permalink) Old 09-03-2003, 11:53 AM
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Quote:
Originally posted by 2weelpilot
its actually a ATV

so its a flat rate not a percentage ?
To be honest I think it's that way for every private party purchase. They actually go based on the year of the vehicle instead of the selling price. I guess the state got fed up with too many people doing what you were thinking of doing, and providing a phony bill of sale to save on tax.

If you go to a currency exchange they usually have the state rates posted on the wall.

Jim Ptak
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post #6 of 8 (permalink) Old 09-03-2003, 12:42 PM
freaking newbies, man there slow, ha ha ha
 
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edit: ^^well that explains why I still pay $15 for tax even though the vehicle purchase I always put at $1
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post #7 of 8 (permalink) Old 09-04-2003, 10:56 AM
 
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I think if you purchase from a family member the tax is even cheaper. I just "bought" my wife's Durango from her father for $1 and I think the tax was $25. They told me it would be like $200 if it wasn't from a family member.

Of course, paying the fee to have her damn vanity plates transferred from her father's namd to her name was like $168!
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post #8 of 8 (permalink) Old 09-04-2003, 11:17 AM Thread Starter
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it is from a family member...I just found out that the atv needs to be registered in WI to ride it in WI though.. I guess Ill have to research WI also

Mike

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