What is the New Illinois Car Trade-In Tax Change?

Starting January 1, 2020, a new Illinois trade-in tax will take into effect taxing the trade-in value of your vehicle if it is more than $10,000. Currently, Illinois does not collect sales tax on a car’s trade-in value. This new law was signed on June 28, 2019, by Governor J.B. Pritzker under Senate Bill 690 […]

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