Here in the social state of Illinois, it never ceases to amaze me how the government taxes us for everything. Now here's some good news, or at least news that's better than bad news.
In Illinois, if you buy a used vehicle, boat, motorcycle, or RV, you pay LESS tax if you purchase from a private party than if you buy from a dealer. I spoke recently to an RV dealer about taxes, and he confirmed what I thought. You will pay less if you buy from a private party!
The details are found on the instructions for Illinois tax form RUT-50. Here's the instruction sheet: http://tax.illinois.gov/TaxForms/Sales/RUT-50-Instr.pdf
There are definitely advantages to buying from a dealer, but you really need to make sure you are aware of the tax benefits of private party sales.
Sunday, November 1, 2009
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