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Unread 07-04-2009, 12:25 PM
 
1 posts, read 2,575 times
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Default Anyone know private party vehicle sales tax in chicago?

I just purchased a car from out-of-state individual. Does anyone know how much I need to pay for that in Chicago?

Also, I just move to chicago and do not have a Chicago Driver License. Is that OK I register the car in Chicago and get a license plate there?

Thank you very much
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Unread 07-04-2009, 01:21 PM
 
Location: Chicago
31,937 posts, read 41,729,371 times
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The tax situation on a private-party sale is kind of complicated. It's based on a combination of age and fair market value. If FMV is below $15,000, then there's a flat rate based on the model year. At 10+ years old, the tax is $25, and it goes up from there. However, if the fair market value is above $15,000, then there's a different (and more expensive) schedule based on FMV. The form and tax schedule is here. (Caution: PDF)
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