Illinois Car Lease Tax

Car leasing in Illinois will become much less expensive on January 1, 2015 due to changes in the applicable tax law. Previously, taxes were based on the full value of a leased vehicle, even though the leasing customer never received full use of the vehicle. Now with the new law, tax will be applied to each monthly payment as it is in most other states in the U.S..

For further information regarding the Illinois tax change, search online for references to Lease Tax Bill HB-2317, signed by the Governor of Illinois on April 21, 2014.

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