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You must file Form RUT-50, Private Party Vehicle Use Tax Transaction, if you purchased or acquired by gift or transfer a motor vehicle from a private party.
To determine the amount of tax due, refer to the RUT-25, RUT-25-LSE, or RUT-50 instructions below. These forms are available at the offices of the Illinois Secretary of State, the Illinois Department of Transportation, or the Illinois Department of Natural Resources.
Form RUT-50, Private Party Vehicle Use Tax Transaction Return. Form RUT-50 is generally obtained when you license and title your vehicle at the local driver's license facility or currency exchange.
Illinois Form RUT-50 is a tax form that must be completed when a private party purchases a vehicle. The form calculates the amount of Private Party Vehicle Use Tax that must be paid based on the vehicle’s purchase price.
7 wrz 2024 · These documents typically include the Vehicle Use Tax Transaction Return Form RUT-50, proof of ownership, and a valid ID. The registration fee in Illinois is $151. If you mail your application, it should be sent to the Secretary of State, Vehicle Services Department.
3 sty 2022 · The instructions include: 1) taxpayers must file Form RUT-50 if they purchased or acquired by gift or transfer a motor vehicle from a private party; 2) taxpayers must file Form RUT-25, Vehicle Use Tax Transaction Return, if they purchased a vehicle from an unregistered out-of-state dealer, lending institution, leasing company, or retailer; 3 ...
Those who purchase a vehicle from a private seller, receive a vehicle as a gift, or move into Illinois with a vehicle they own are required to file form RUT-50. This tax is also referred to as the Private Party Vehicle Use Tax Transaction Return.
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