This form is a simple model for a bill of sale for personal property used in connection with a business enterprise. Adapt to fit your circumstances.
Bill Personal Property Form For Sale In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00167
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
11% of receipts or charges for all leases, including the non-possessory lease of a computer to input, modify, or retrieve data supplied by the customer. As of 1-1-2021: 9% of receipts or charges for all leases, including the non-possessory lease of a computer to input, modify, or retrieve data supplied by the customer.
It's also worth noting that many states, but not Illinois, tax “personal property” like cars, boats and business equipment. The 1970 Illinois constitution banned personal property taxes.
It's also worth noting that many states, but not Illinois, tax “personal property” like cars, boats and business equipment. The 1970 Illinois constitution banned personal property taxes.
If you sold a personal use asset for more than what you bought it for, then you would generally report that on the Stock or Investment Sale Information screen. You can report any selling expenses by reducing the amount you enter as "Sale Proceeds" by the amount of your selling expenses.
If you end up paying personal property taxes to your local government, the IRS allows you to claim a deduction for it on your federal tax return.
Exemptions Sales to state, local, and federal governments. Sales to not-for-profit organizations that are exclusively charitable, religious, or educational. Sales of newspapers and magazines.
