04-12-2012, 11:22 PM
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CC Member
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Join Date: Oct 2003
Location: Golden Isles,
GA
Cobra Make, Engine: Butler Cobra. 350 Chevy Engine, blueprinted, heads cc'd, ported, polished, manifolds matched, big valves, 1.6 roller rockers, TB Injected, mild cam, MSD crank trigger electronic ignition. TKO-600 transmission. XKE Jaguar rear. IFS by Fast Cars
Posts: 555
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Not Ranked
Illinois Sales Tax payment on cobra builds
Being ignorant of Illinois sales tax law is not an excuse. So how does one correct the mistake if sales tax was not paid within the 30 day window.
Seems reasonable that you would pay tax when the car was completed and you applied for the license and title. But that does not seem to be the law.
It would be a major blunder if you got the kit/components a couple of years before you finished the build and applied for the title & plates.
How many people that have built custom cars face this tax issues and how have they resolved their cases.
Are there any Illinois Sales Tax gurus reading this forum?
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