Atv Form With Retail In Chicago
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FAQ
The statewide sales tax rate is 6.25% collected by the Illinois Department of Revenue with 1.25% being returned to local governments where the goods were purchased.
To gift someone a vehicle, you must transfer the vehicle title to their name and create a bill of sale. Selling a vehicle for $1 instead of gifting it could result in your recipient paying sales tax based on the car's fair market value — it's better to stick with the official gifting process.
If purchased from a dealer, you must complete Tax Form RUT-25. If purchased from an individual, you must complete Tax Form RUT-50. One of these forms must be presented with a separate tax payment made out to the Illinois Department of Revenue at the time you apply for Title and Registration.
A gifted car bill of sale is designed to provide information about the person who owns the car and the person it's being gifted to, along with information about the vehicle and the transaction. This bill of sale is essential, even though you'll also transfer the title.
If you had the vehicle titled in another state for more than three months, no Illinois tax is due, but you still must file Form RUT-50 to reflect that fact. On Forms RUT-25 and RUT-50, the exemption for using the vehicle outside Illinois for more than three months applies only to individuals moving into Illinois.
What type of vehicle must be titled and registered? Off-road motorcycles and ATVs are titled but are not registered.
Illinois requires that drivers of ATVs be at least 16 years of age and carry a valid driver's license in order to use the ATVs on state-designated nature trails. Otherwise, the state of Illinois does not actually have an age restriction for the operation of ATVs. It only depends on where they are being operated.
