Illinois Department of Revenue
 
 
Got Questions?
 
 
 
 
 

What is the amount of tax I pay when I file Form RUT-50?

 
 
Answer #442 -- ( Published 12/30/2005 11:44 AM | Updated 08/08/2012 10:01 AM )

 

The purchase price (or fair market value) of a vehicle determines which tax table to use.  When there is no stated purchase price, such as in the case of a gift or even trade, the fair market value should be used.  The fair market value may be obtained from a licensed dealer.  A trade-in deduction is not allowed on this tax. 

See the Vehicle Use Tax chart for the current rates.

Answers others found helpful


Submit a question

:
:

:


 
 
Answer Center
 
 
Quick Links
 
 
 
 
Information For
 
 
 
 
About IDOR