Lawdog Dago Dom Posted December 9, 2019 Share Posted December 9, 2019 Making no effort to stop the stream of taillights leaving Illinois, the state will now tax parking. No spending cuts, though. Happy New Year 2020. https://edgarcountywatchdogs.com/2019/11/new-illinois-tax-paid-parking-lots-must-be-licensed-and-pay-tax/ Link to comment Share on other sites More sharing options...
Chili Ron Posted December 9, 2019 Share Posted December 9, 2019 Howdy, So you haven't heard the latest. Illinois why are we still here? Now if you buy a new car for say 35000, you get a deduction on your trade, say 20000 so you pay tax on 15000. Remember you already paid tax on the car you are trading in, right? after jan 1 2020 the deduct limit will be 10000. So you pay tax on 35000 less 10000 or 25000. And the difference get worse on say a corvette or some other fun car. I wouldn't want to be selling nice cars next year. People who trade every year or two to avoid repairs get really …….. Best CR Link to comment Share on other sites More sharing options...
Charlie MacNeil, SASS #48580 Posted December 9, 2019 Share Posted December 9, 2019 Oregon’s legislators, in their infinite wisdom, voted in a “luxury tax” a year or so ago in which you pay a percentage of the buying price when you buy a new vehicle, not just a car. A vehicle of any kind. Not sure about bicycles. If you buy it out of state, the tax gets added to your vehicle registration fee, which I think is already higher than it should be. Once again, greed knoweth no bounds... Link to comment Share on other sites More sharing options...
Fence Cutter Posted December 9, 2019 Share Posted December 9, 2019 Well this new tax really sucks for all our Illinois pards, and I'm glad that I don't live there but, I after reading the topic I thought that it was going to be something even worse than this.......... ...... I immediately thought they were going to put a tax on "parking", as in up on Lovers Lane Link to comment Share on other sites More sharing options...
PaleWolf Brunelle, #2495L Posted December 10, 2019 Share Posted December 10, 2019 Oregon’s legislators, in their infinite wisdom, voted in a “luxury tax” a year or so ago in which you pay a percentage of the buying price when you buy a new vehicle, not just a car. A vehicle of any kind. Not sure about bicycles. If you buy it out of state, the tax gets added to your vehicle registration fee, which I think is already higher than it should be. Once again, greed knoweth no bounds... $15 flat tax on new bicycles with 26"+ tires and retail price > $200. Collected at point of retail sale.Source Link to comment Share on other sites More sharing options...
Bad Bascomb, SASS # 47,494 Posted December 10, 2019 Share Posted December 10, 2019 Yup...... Socialism's expensive! Link to comment Share on other sites More sharing options...
Marshal Mo Hare, SASS #45984 Posted December 10, 2019 Share Posted December 10, 2019 I was surprised that they did not have that tax already Link to comment Share on other sites More sharing options...
Red Gauntlet , SASS 60619 Posted December 10, 2019 Share Posted December 10, 2019 When you trade in a car, you aren't 'deducting' it from the selling price of the new car, you are selling it to the dealer. Link to comment Share on other sites More sharing options...
J.D. Daily Posted December 11, 2019 Share Posted December 11, 2019 I CA you have always paid "use tax" (same as sales tax) on the price before deduction for trade in. Dealers typically when a trade in is involved set the sales price higher than if no trade in is involved & inflate the trade in value. The problem with this is the only winner in this is the local school district, city/county & the state. Link to comment Share on other sites More sharing options...
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