Form Rut 50 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?No
Fillable fields0
Avg. time to fill out15 sec
Other namestax form rut 50 printable, rut 50 form illinois, il rut 50, tax form rut 50

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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)

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