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Smart Shopper Vehicle Sales Tax Questions
947 messages, Last post on Nov 23, 2009 at 10:05 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: slhouse1 (Oct 20, 2008 5:47 am) A lot of companies set-up balloon payment programs, specifically for Illinois, so that the vehicle is in the purchaser's name, and so they get a tax credit on trade, or can avoid additional sales tax if they exercise the purchase option at the end of the balloon period. If you've been leasing, and are going to another lease, then you probably aren't going to get any credit at all. People say leasing sucks in Illinois, and this is why. regards, kyfdx visiting host
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Replying to: kyfdx (Oct 20, 2008 7:30 am) What I take away from your answer, is, if I go from LEASE to PURCHASE, I will get the tax credit? Makes a big difference in overall price. Thanks for all your help.
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Replying to: slhouse1 (Oct 20, 2008 8:19 am) All you can do is worry about the next time.. |
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Replying to: slhouse1 (Oct 19, 2008 5:43 am) Unless IL simply doesn't issue any credits.
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Replying to: volvomax (Oct 20, 2008 9:05 am) I guess it's not so simple anymore. 
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Because you can afford the ST is no reason to charge so much to those who can afford more expensive vehicles. "From those who earn it to those who collect it" punishes and discourages thrift, savings, & those of higher incomes. Just don't understand the logic of charging more depending on the value of the vehicle.
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Replying to: euphonium (Jan 27, 2009 11:12 am) South Carolina is capped at $300.. |
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Replying to: euphonium (Jan 27, 2009 11:12 am) How is this unfair? It's a flat tax. The income tax that is graded based on how much you earn is WAYYYY more unfair than a sales tax.
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Replying to: euphonium (Jan 27, 2009 11:12 am) Perhaps, but one could argue that "those of higher incomes" get a break on things like profits on stocks and bonds where their profits are taxed at rates lower than income taxes and there is no tax on sales.  tidester, host SUVs and Smart Shopper |
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Replying to: tidester (Jan 27, 2009 4:38 pm) Capital Gains! Now THERE is an unfair tax. First, you are taxed on the income you used to buy the stock THEN you get taxed again when you have the temerity to make a PROFIT!
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