The total price on the window sticker or dealer invoice rarely reflects the actual amount you will pay at the closing table. In most cases, this taxable value is the final sale price agreed upon with the dealer.
Verifying Car Sales Tax and Bill Sale Compliance in Illinois
Then, you apply this combined rate to the taxable value of the vehicle. This rate applies to the total selling price of the vehicle, which includes any dealer fees or charges that are required to complete the sale.
08, resulting in $1,600 in sales tax. Knowing this base rate is the first step in manually calculating your tax burden or verifying a dealer's calculation.
Verify Car Sales Tax Bill Sale Details in Illinois
Local Sales Tax Additions Illinois allows counties and municipalities to impose additional sales tax rates on top of the state rate. The local tax is usually a percentage of the same taxable base and is collected by the dealer on behalf of the local government.
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