In navigating the responsibilities that come with acquiring an aircraft or watercraft through non-retail means—such as through a gift, donation, transfer, or purchase from a private seller—one is required to complete and submit the Form RUT-75, officially known as the Aircraft/Watercraft Use Tax Transaction Return. This form is essential for anyone who has come into possession of an aircraft—which includes an array of aviation vehicles from airplanes and helicopters to gliders and seaplanes—or watercraft, specifically those classified under certain sections of the Boat Registration and Safety Act, excluding canoes and kayaks. The necessity to file this form is rooted in ensuring the appropriate use tax is collected on such transactions, which might otherwise circumvent the traditional retail sales tax system. Following acquisition, the form must be filed within a stipulated 30-day period, a timeline that applies whether the property was obtained within Illinois or brought into the state from elsewhere. Exemptions may apply under specific circumstances, notably for transfers among immediate family members or entities recognized for charitable, religious, educational, or governmental purposes. Besides tax calculation based on the purchase price or fair market value, the form also demands detailed information about the purchaser and the item, substantiation of any tax previously paid in another state, and concludes with requisite signatures before submission. Compliance not only facilitates the valid registration of the aircraft or watercraft with the respective Illinois authorities but also averts potential penalties associated with late filing or underpayment of the applicable tax.
| Question | Answer |
|---|---|
| Form Name | Rut 75 Tax Form |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | il dept of revenue form rut 75 print form, printable rut 75 form, il rut 75 instructions, rut75 |
General Information
Who must file Form
If you acquire an aircraft or watercraft by gift, donation, transfer, or
“Aircraft” includes airplanes, helicopters,
“Watercraft” includes
•Class 2, Class 3, and Class 4 watercraft as defined in Section
•personal watercraft as defined in Section
What is a
A purchase from a person or business not in the business of selling aircraft or watercraft at retail is considered a
What if I purchase from a dealer or leasing company?
Do not use Form
When is Form
Within 30 days from the date of acquiring the aircraft or watercraft if acquired in Illinois or within 30 days of bringing it into Illinois if acquired outside Illinois. You must submit proof of tax payment or exemption before your registration will be issued by the
•Department of Transportation - Division of Aeronautics (aircraft).
•Department of Natural Resources (watercraft).
What if I need help?
Visit our web site at tax.illinois.gov; call us weekdays between
8 a.m. to 5 p.m. at 1 800
Specific Information
Step 1 — Purchaser or new owner information
Line 3: This is the address as it will appear on the Illinois registration.
Lines 5: Social Security number or federal employer identification number (FEIN).
Line 6: Watercraft only - Check if reporting a transfer between immediate family members. If our review indicates that the primary reason for the transfer was to avoid payment of tax, we will bill you for applicable tax, penalties, and interest.
Step 3 — Item information
Line 4: Date purchaser (not the seller) acquired the item.
Line 5: Date purchaser (not the seller) brought the item into Illinois. This date should always be on or after the purchase date.
Line 7b: Type of watercraft. List one: open, cabin, houseboat, sailboat, pontoon, PWC/jetski, paddleboat or other.
Step 4 — Exempt transaction - Mark the applicable box. If the transaction is taxable, skip to Step 5.
a Charitable, religious, educational, or governmental organization with an active Illinois Department of Revenue exemption number.
b Rolling stock item for hire to haul persons or commodities in inter- state commerce. Aircraft - provide FAA certificate of authority number.
fWatercraft only - not required to be numbered under the Boat Registration and Safety Act and,
•will not be used upon Illinois waters for more than 30 days in any calendar year; or
•regardless of time used upon Illinois waters, and is either:
–owned by the United States, a State, or subdivision thereof, and used solely for official purposes and clearly identifiable; or
–used exclusively as a ship’s lifeboat.
Step 5 — Figure your tax
Round to nearest dollar: Drop amounts of less than 50 cents, and increase amounts of 50 cents or more to the next higher dollar.
Line 1: Tax is based on the purchase price or fair market value amount. Attach a copy of the purchase agreement/invoice which must have the purchase price and the tax previously paid clearly and separately stated. Aircraft - must also attach a copy of the FAA bill of sale. If you purchase or acquire a share of an aircraft or watercraft, write the share’s purchase price or fair market value. For watercraft, the purchase price or fair market value must include the value of any motor sold with, or as part of, the transaction. If the purchase price is less than the fair market value, you must pay tax on the fair market value on the date acquired or brought into Illinois, whichever is later. The only exception is a watercraft transfer between immediate
family members (I.E., a spouse, parent, brother, sister, or child). Write this purchase price on Line 1. If our review questions the
amount stated on Line 1, we have the authority to determine the fair market value through an independent valuation. We will bill you if additional tax is owed, including penalties and interest.
Line 3 - Provide the name of the state and the amount of sales or use tax you previously paid to that state. Credit is allowed only if the tax previously paid was properly due and separately stated on the proof of tax payment that must be attached to Form
Line 4 - Subtract Line 3 from Line 2. This is the amount of tax that
you owe. Make your remittance payable to “Illinois Department of Revenue” and attach it to Page 1 of Form
You owe a late filing penalty if you do not file a processable return by the due date, a late payment penalty if you do not pay the amount you owe by the original due date of the return, a bad check penalty if your remittance is not honored by your financial institution, and a cost of collection fee if you do not pay the amount you owe within 30 days of the date printed on a bill that we send you. For more information, see Publication 103, Penalties and Interest for Illinois Taxes. To receive a copy of this publication, visit our web site at tax.illinois.gov, or call 1 800
Step 6 — Sign here
The purchaser and
Keep Page 2 for your records.
Aircraft:
DEPARTMENT OF TRANSPORTATION DIVISION OF AERONAUTICS ABRAHAM LINCOLN CAPITAL AIRPORT 1 LANGHORNE BOND DRIVE SPRINGFIELD, IL
Watercraft:
DEPARTMENT OF NATURAL RESOURCES
PO BOX 19226
SPRINGFIELD, IL
Page 2 back |
