Local Sales Tax Additions Illinois allows counties and municipalities to impose additional sales tax rates on top of the state rate. The table below illustrates how different local rates impact the total tax on a $25,000 vehicle.
Steps to Avoid Overpaying Car Tax in Illinois
In most cases, this taxable value is the final sale price agreed upon with the dealer. Manual calculation helps you understand your bill of sale and catch any potential errors made by the dealership's finance department.
The local tax is usually a percentage of the same taxable base and is collected by the dealer on behalf of the local government. How to Calculate the Tax To calculate your total sales tax, you must combine the state rate and the local rate to get a combined rate.
Steps to Avoid Overpaying Car Tax in Illinois
00 Exemptions and Special Cases. While this seems straightforward, the calculation becomes more complex when you factor in local taxes and the specific definition of the taxable price in Illinois law.
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