Bipartisan push would repeal Illinois car trade-in tax – Center Square

As of Jan. 1, Illinois’ sales tax applies to any trade-in vehicle worth more than $10,000. That means trading in a $30,000 car for one worth $60,000 will cost the customer an extra $1,200 in additional sales taxes. It’s estimated to bring the state $60 million annually, affecting what state officials insisted was a small portion of Illinois residents.

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