I live in Wisconsin and made a deal on a 2018 Trackhawk today with a Dealership in Illinois.
I am going to trade in my SRT Durango on the Trackhawk on Tuesday.
The Dealership sent me a bill of sale with everything we agreed on but I noticed the sales tax was about twice what I expected. Wisconsin sales tax is 5.5 percent, and this was over double that.
I did some researching and it looks like Illinois just passed a new law last January which states something to the affect that only $10K of a trade-in can be deducted from the purchase price for sales tax purposes.
This should not affect me though, should it? I was under the impression that since I live in Wisconsin, I would only pay WI sales tax on the purchase price minus the full trade-in allowance.
Has anyone had to deal with this or know exactly how the sales tax should apply to me?
Any help or advice would be greatly appreciated.
.
I am going to trade in my SRT Durango on the Trackhawk on Tuesday.
The Dealership sent me a bill of sale with everything we agreed on but I noticed the sales tax was about twice what I expected. Wisconsin sales tax is 5.5 percent, and this was over double that.
I did some researching and it looks like Illinois just passed a new law last January which states something to the affect that only $10K of a trade-in can be deducted from the purchase price for sales tax purposes.
This should not affect me though, should it? I was under the impression that since I live in Wisconsin, I would only pay WI sales tax on the purchase price minus the full trade-in allowance.
Has anyone had to deal with this or know exactly how the sales tax should apply to me?
Any help or advice would be greatly appreciated.
.