Upper Mid-West S2000 Owners Members from the upper mid-west including Michigan, Illinios, Indiana, and Wisconsin

Questions for the IL. people?

Thread Tools
 
Old 05-03-2005 | 10:51 AM
  #11  
S2000GT's Avatar
Registered User
 
Joined: Mar 2002
Posts: 7,776
Likes: 0
From: Chicago (ex London UK)
Default

Originally Posted by dp2580,May 3 2005, 12:22 PM
so If I trade in my car I just have to pay the difference on my taxes right?
If you trade in your car, you effectively pay tax on the balance of the transaction.

for eg: If you trade a 10k car in for a 15k one, youll pay tax on 5k only

at least - thats what happened when I got mine.
Old 05-03-2005 | 10:56 AM
  #12  
dp2580's Avatar
Thread Starter
Registered User
 
Joined: Feb 2002
Posts: 634
Likes: 0
From: Chicago
Default

oh ok nice. thanks for the advice
Old 05-03-2005 | 11:27 AM
  #13  
TaxMan's Avatar
Registered User
 
Joined: Jul 2003
Posts: 89
Likes: 0
From: Chicago
Default

Originally Posted by Luder94,May 3 2005, 10:32 AM
You sure you know what you're talking about?
.
.
.
.
I'm just being an UMW clown. I know this guy knows what he's talking about...hell just look at his screen name.
Don't let the screen name mislead you

For once, I know what I'm talking about.
Old 05-03-2005 | 12:23 PM
  #14  
dp2580's Avatar
Thread Starter
Registered User
 
Joined: Feb 2002
Posts: 634
Likes: 0
From: Chicago
Default

hahahahhaha I love this forum!
Old 05-03-2005 | 01:02 PM
  #15  
2cents's Avatar
Registered User
 
Joined: Mar 2005
Posts: 204
Likes: 0
From: Prospect Hts., IL
Default

u gotta pay when u register your vehicle...whichever state...

however, i don't think you pay any tax if the vehicle has been titled for more than ~90 days (call Jessie White ) in another state...then it's just transfer...
Old 05-03-2005 | 01:17 PM
  #16  
rustywave's Avatar
Registered User
 
Joined: Feb 2005
Posts: 3,605
Likes: 0
From: Chicago
Default

Originally Posted by donnie b,May 3 2005, 11:39 AM
hmm i never was told of anything like that they made me pay a sales tax percentage. i think it was 7.25% of the total

donnie
oh my mistake...i went back and re-read your first post...i missed that you had bought it from a dealer before. i'm not sure about how that goes, but if you buy from a private party (which is what i did), then you'd pay the $1k for tax instead of 7.5%. at least i hope so.
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
dcak
Upper Mid-West S2000 Owners
6
05-29-2007 04:43 PM
Purple Haze
S2000 Talk
53
08-20-2006 06:42 PM
markpenske
New York - Upstate New York S2000 Owners
8
02-22-2006 06:24 PM
dp2580
Upper Mid-West S2000 Owners
18
05-20-2005 10:02 AM
s22k
Texas - Houston S2000 Owners
2
11-23-2001 02:08 PM



Quick Reply: Questions for the IL. people?



All times are GMT -8. The time now is 07:42 PM.