Tax Form Rut 50 PDF Details

Are you one of the millions of Americans who dread tax time? Do you find yourself struggling to fill out those pesky tax forms year after year? If so, you're not alone. But help is available! This year, why not try using Tax Form Rut 50? Designed specifically for taxpayers like you, Tax Form Rut 50 can make filling out your return a breeze.

You will discover info about the type of form you want to complete in the table. It can show you the amount of time you'll need to finish tax form rut 50, exactly what parts you will have to fill in and a few additional specific details.

QuestionAnswer
Form NameTax Form Rut 50
Form Length1 pages
Fillable?Yes
Fillable fields26
Avg. time to fill out5 min 27 sec
Other namesrut 50 printable form, rut 50 sample, rut 50 form illinois, illinois rut 50

Form Preview Example

Illinois Department of Revenue

RUT-50 Private Party Vehicle Use Tax Chart for 2016

Effective January 1, 2016, through December 31, 2016

Illinois Private Party Vehicle Use Tax (Step 6, Line 1)

For Illinois private party vehicle use tax, the tax is based on the purchase price (or fair market value) with exceptions noted on the right (motorcycles and specific situations). For most purchases, you will use Table A or B to determine the tax amount. The purchase price of a vehicle is the value given whether received in money or otherwise; this includes cash, credits, property, or service. When there is no stated purchase price, such as in the case of a gift or even trade, the fair market value should be used. The fair market value may be obtained from a licensed dealer.

Other transaction types that may be reported on Form RUT-50 are listed below along with the required tax amount due.

Exemptions

If one of the following exemptions

Note: A trade-in deduction is not allowed on this tax.

Table A

Use the table below when the purchase price (or fair market value) of a vehicle is less than $15,000. The tax due is determined by the model year of the vehicle.

Model year

Vehicle age (years)

Tax due ($)

2015 or newer . . . .

. . . . . .1 or newer

. . . . . 390

2014

. . . . . .2

. . . . 290

2013

. . . . . .3

. . . . 215

2012

. . . . . .4

. . . . 165

2011

. . . . . .5

. . . . .115

2010

. . . . . .6

. . . . . 90

2009

. . . . . .7

. . . . . 80

2008

. . . . . .8

. . . . . 65

2007

. . . . . .9

. . . . . 50

2006

. . . . .10

. . . . . 40

2005

. . . . .11 or older

. . . . . 25

 

 

 

Table B

Use the table below when the purchase price (or fair market value) of a vehicle is $15,000 or more. The tax due is determined by the purchase price (or fair market value) of the vehicle.

Purchase price (or fair market value) ($)

Tax due ($)

15,000 to 19,999.99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 750 20,000 to 24,999.99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000 25,000 to 29,999.99 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,250 30,000 or more . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500

apply, the tax due is $0:

purchaser is a tax-exempt organization

vehicle is a farm implement primarily used in production agriculture and not required to be registered under the Illinois Vehicle Code or is a ready-mix concrete truck that qualifies under the manufacturing machinery and equipment exemption

vehicle is used for rolling stock

purchaser was an out-of-state resident and vehicle was used outside of Illinois for at least three months (individuals only)

vehicle is an estate gift to a surviving spouse (including a party to a civil union).

Exceptions

If one of the following exceptions apply,

the tax due is $15:

vehicle is an estate gift to a beneficiary other than a surviving spouse

vehicle is being transferred in a business reorganization

vehicle is being transferred or purchased from a spouse (including a party to a civil union), parent, brother, sister, or child

Motorcycles or ATVS

If the purchase is a motorcycle, motor- driven cycle, 3- or 4­wheel all-terrain vehicle (ATV), or motorized pedalcycle,

the tax due is $25.

Local Government Private Party Vehicle Use Tax (Step 6, Lines 2 and 3)

See RUT-6, Form RUT-50 Reference Guide, to determine whether you must report any local government private party vehicle use tax on Form RUT-50.

RUT-5 (R-09/15)

How to Edit Tax Form Rut 50 Online for Free

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Step 1: Select the button "Get Form Here" on the following website and click it.

Step 2: Once you've entered the editing page il rut 50, you should be able to find each of the options readily available for your document in the top menu.

The next areas will create the PDF file that you'll be creating:

filling in rut 50 form illinois part 1

The system will demand you to fill out the Tax, due Motorcycles, or, ATVS and RU, TR section.

part 2 to finishing rut 50 form illinois

Step 3: Hit the button "Done". Your PDF document may be exported. You can easily upload it to your device or send it by email.

Step 4: Make sure to remain away from forthcoming problems by creating minimally a pair of copies of the form.

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