a)
Prior to January 1, 1988, the rate of tax shall be 5% of the selling
price for each purchase of a motor vehicle.
b)
Except as hereinafter provided,
beginning January 1, 1988 and until January 1, 2022, the rate of tax shall be
as follows for transactions in which the selling price of the motor vehicle is
less than $15,000:
NUMBER OF YEARS TRANSPIRED AFTER MODEL YEAR OF MOTOR
VEHICLE
|
APPLICABLE TAX
|
1 OR LESS
|
$390
|
2
|
290
|
3
|
215
|
4
|
165
|
5
|
115
|
6
|
90
|
7
|
80
|
8
|
65
|
9
|
50
|
10
|
40
|
OVER 10
|
25
|
c)
Except as hereinafter provided, beginning on January 1, 2022, the rate
of tax shall be as follows for transactions in which the selling price of the
motor vehicle is less than $15,000:
NUMBER OF YEARS TRANSPIRED AFTER MODEL YEAR OF MOTOR
VEHICLE
|
APPLICABLE TAX
|
1 OR LESS
|
$465
|
2
|
365
|
3
|
290
|
4
|
240
|
5
|
190
|
6
|
165
|
7
|
155
|
8
|
140
|
9
|
125
|
10
|
115
|
OVER 10
|
100
|
d)
Except as hereinafter provided, beginning January 1, 1988 and until
January 1, 2022, the rate of tax shall be as follows for transactions in which
the selling price of the motor vehicle is $15,000 or more:
SELLING PRICE
|
APPLICABLE TAX
|
$15,000 - $19,999
|
$ 750
|
$20,000 - $24,999
|
$1,000
|
$25,000 - $29,999
|
$1,250
|
$30,000 and over
|
$1,500
|
e)
Except as hereinafter provided, beginning on January 1, 2022, the rate
of tax shall be as follows for transactions in which the selling price of the
motor vehicle is $15,000 or more:
SELLING PRICE
|
APPLICABLE TAX
|
$15,000 - $19,999
|
$ 850
|
$20,000 - $24,999
|
$1,100
|
$25,000 - $29,999
|
$1,350
|
$30,000 - $49,999
|
$1,600
|
$50,000 - $99,999
|
$2,600
|
$100,000 - $999,999
|
$5,100
|
$1,000,000 and over
|
$10,100
|
f)
Effective January 1, 1988, the tax rate shall be $15 for each motor vehicle
acquired in the following transactions:
1)
When the transfer is a gift to a beneficiary in the administration of
an estate, which, effective May 13, 2022, includes, but is not
limited to, the administration of an inter vivos trust that became irrevocable
upon the death of a grantor, and the beneficiary is not a surviving
spouse;
2)
When a
motor vehicle which has once been subjected to the Illinois retailers'
occupation tax or use tax is transferred in connection with the organization,
reorganization, dissolution or partial liquidation of an incorporated or
unincorporated business wherein the beneficial ownership is not
changed;
3)
When
the transferee or purchaser is the spouse, mother, father, brother, sister or
child of the transferor. Section 3-1001 of the Illinois Vehicle Title
& Registration Law. When the transfer is from one spouse to the other
spouse in a dissolution of marriage proceeding the transfer is considered a
transfer between spouses for purposes of this subsection. The transfer must be
made no later than 90 days after the date of a final, non-appealable order of
dissolution of marriage.
g) A claim that a transaction is taxable
under subsection (f)(3) of this Section must be supported by a certification of
family relationship. The certificate must be executed by the transferee and
submitted at the time of filing the return. The certification must include the
transferor's name and address, the transferee's name and address and a
statement that describes the family relationship between them. In the case of a
dissolution of marriage, the transferee spouse shall also certify that the
order of dissolution of marriage is final and shall provide a copy of the order
of dissolution of marriage.
h)
For a transaction in which a motorcycle, motor driven cycle or
motorized pedalcycle is acquired the tax rate shall be $25. Section
3-1001 of the Illinois Vehicle Title & Registration Law [625 ILCS
5].
i) For a transaction in which
an all-terrain vehicle is acquired, the tax rate shall be $25.
j) For purposes of this Section, "selling
price" means the consideration received for a motor vehicle subject to the tax
imposed by this Section valued in money, whether received in money or
otherwise, including cash, credits, service or property. In the case of gifts
or transfers without reasonable consideration, "selling price" shall be deemed
to be the fair market value as determined by the Department or the Department's
vendor. In determining the fair market value, the Department or its vendor
shall consider the year, make, model and Vehicle Identification
Number.