Illinois Tax Requirements for Cars, Trucks, Vans, Motorcycles, ATVs ...
At the time you apply for an Illinois title with the Secretary of State for a vehicle you purchased, leased, or acquired by gift or transfer, you are required to submit either payment of tax or proof that no tax is …
New Motor Vehicle Tax - Cook County Government, Illinois
Every registered Motor Vehicle and Trailer Dealer must file a monthly return, even when purchasing tax-paid or when inactive. New Motor Vehicle Tax is due on the 20th of each month
Tax Rate Changes as of January 2026 - City of Chicago
In accordance with the City Council’s passage of the 2026 Revenue Ordinance on December 20, 2025, the following tax changes will be effective on January 1, 2026, unless otherwise noted below: …
New or used? Trump's tax break changes the math for car buyers.
Aug 9, 2025 · It’s one of several novel tax cuts in the new law. Here’s what the “no tax” provision actually means: Between now and 2028, car buyers may deduct the interest they pay on new car loans.
How to Qualify for the New Car Loan Interest Deduction
1 day ago · New tax provisions for 2025-2028 may allow you to deduct the interest paid on a new car loan.
Illinois (IL) Car Sales Tax & Fees [+ Calculator]
Our expert editors lay out exactly what you need to know about Illinois’ sales tax rates for vehicles (6.25%), including how these costs vary by location and the specifics of calculating these expenses …
Trump Has a New Auto Loan Tax Break. Here’s Who Could Benefit.
3 days ago · Source: site Trump’s new auto loan tax break lets many middle‑income borrowers deduct interest on qualifying new car loans from their federal income taxes between 2025 and 2028, but it …
No Tax on Car Loan Interest |The Big Beautiful Bill Explained
Aug 14, 2025 · For those planning to buy a new U.S.-assembled vehicle with financing between 2025 and 2028, the Big Beautiful Bill car loan interest deduction can lower your taxable income by up to …
Understanding the (New) Car Loan Interest Tax Deduction From 2025 …
Under Trumps Tax Bill passed on Independence Day 2025, car buyers who take a loan to buy a new car will be eligible for an above-the-line federal tax deduction when filing their tax returns.
Some car buyers will get a tax break this year from the "big, beautiful ...
Jul 14, 2025 · Millions of car buyers in the U.S. could soon get some tax relief thanks to a provision in the so-called "big, beautiful bill" that was signed into law on July 4 by President Trump.