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Vehicle Sales Tax Questions

947 messages,  Last post on Nov 23, 2009 at 10:05 AM

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What is this discussion about? Car Financing, Car Leasing


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#900 of 947
Transferring from IN to IL by kateblake
May 17, 2009 (2:54 pm)
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Replying to: euphonium (May 12, 2009 10:18 am)

I leased my car last year in Indiana and registered/titled it there. I now need to register my car in Illinois; however, I don't want to have to pay taxes on it again.
 
The way my lease is configured, Indiana taxes are included in my monthly payments. I will continue to pay these regardless of whether my car is leased in Indiana or Illinois.
 
Does anyone know what Illinois's policy on leased cars is? The value of the car is 17,000 but I will only end up paying 9,100 on it (36 mo. lease).
 
My driver's license is also an Illinois license. Would it be cheaper to try to get an Indiana license and keep renewing in that state until my lease is up?
#901 of 947
Re: Transferring from IN to IL [kateblake] by euphonium
May 17, 2009 (3:36 pm)
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Replying to: kateblake (May 17, 2009 2:54 pm)

WA tax commission has same problem with WA residents leasing OR cars. It has been determined that your drivers license is the same state as where you rest your head at night. Which state is your principal residence will determine and if your insurance policy doesn't match your state license, there is a problem for you.
#902 of 947
Re: Transferring from IN to IL [kateblake] by volvomax
May 19, 2009 (8:21 am)
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Replying to: kateblake (May 17, 2009 2:54 pm)

Typically, if you change the state of registration you will change tax structure as well.
You would cease to pay IN tax and start paying IL tax. Most states charge tax on the payment,whatever that is, not on the current value of the car.
#903 of 947
Re: Transferring from IN to IL [volvomax] by kyfdx HOST
May 19, 2009 (7:22 pm)
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Replying to: volvomax (May 19, 2009 8:21 am)

On new leases, Illinois charges tax on the full purchase price.. Indiana charges on the monthly payment...
 
I have no idea what Illinois will do on an existing lease brought in from another state, but I'm thinking it won't be pretty...
#904 of 947
Re: Confusion on tax rates CHICAGO IL [volvomax] by 1stin10
Jun 26, 2009 (12:11 pm)
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Replying to: volvomax (Jun 20, 2008 1:18 pm)

Hello, I am getting ready to buy a new vehicle in Cook County this Monday. It will be registered at my home in Chicago. I am writing to say there seems to be major confusion out there about the tax rate for Chicagoans. A perfect example of that is this thread from last year.
 
As for me, the dealership is telling me my tax will be 9.25%, even though a friend also living in the city paid 8.5% last month, and the IL Dept of Revenue's online "tax finder" tool indicates that for new vehicles the State takes 7.25% and the City of Chicago takes 1.25% for a total of 8.5%. Does anyone knowledgeable about this region's vehicle sales tax know why the dealership thinks it's 9.25%? I've seen other dealers make the same claim online, so if it's legit, why doesn't the State make that info readily available?
#905 of 947
Re: Confusion on tax rates CHICAGO IL [1stin10] by volvomax
Jun 26, 2009 (12:46 pm)
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Replying to: 1stin10 (Jun 26, 2009 12:11 pm)

If anyone knows what the proper tax rate it, it would be the dealer that has to collect it. It could be a local tax that is the difference. What town is the dealer actually in?
#906 of 947
Re: Confusion on tax rates CHICAGO IL [volvomax] by 1stin10
Jun 26, 2009 (1:41 pm)
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Replying to: volvomax (Jun 26, 2009 12:46 pm)

The dealer is in Arlington Heights, which is Cook County, same as Chicago. The way it works in Illinois is you pay the sales tax based on the address where the car is registered, not where it's purchased. Because I live in Chicago, I get to pay the highest tax in the state. Anyway, my friend who lives in the city and who paid 8.5% last month bought her new Honda from a dealership in the city, so I'm assuming they would know better than anyone what to charge city residents. In the end, the difference is not that large. I just want to understand what the correct answer is.
#907 of 947
Dealer sales tax check short by jfitz2
Jun 26, 2009 (1:46 pm)
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I live in Texas and I recently bought a vehicle in South Carolina. I just discovered that the check that the dealer sent to the Texas tax office is short $300. While I think this was a genuine error and will be corrected and wanted to see what are the implications of this. I have my bill of sale that shows the correct amount of the transaction and the appropriate sales tax paid on the deal. If the dealer chose not to pay the remainder, who is liable for it and can I still get my registration? Any information would be greatly appreciated.
#908 of 947
Re: Dealer sales tax check short [jfitz2] by volvomax
Jun 27, 2009 (8:00 am)
Reply

Replying to: jfitz2 (Jun 26, 2009 1:46 pm)

If your buyers order shows the correct amount, the dealer is liable for the shortfall.

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