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Illinois Affirmation Vehicle Form

Illinois Affirmation Vehicle Form

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Instructions and help about illinois electric vehicle form

if you're in the market for a new car and will be trading in your old one a new law eliminates the 10 000 tax credit cap that was set in 2020 as part of the rebuild illinois capital plan the dealers associations and the consumer groups have tried to get that reversed for a couple years because it's a good deal for the consumer to get a full tax credit on the purchase couldn't be better timing because the value of people's trade-ins has never been higher because the situation in the in the automobile market right now so let's break this down here's how it would work if you're buying a car for forty thousand dollars your trade-ins worth twenty thousand you only have to pay tax on the difference which is twenty thousand dollars when that ten thousand dollar tax cap was in place you're buying a car for forty thousand your trade-ins twenty thousand but with the tax cap you'd have to pay taxes on thirty thousand and depe

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