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Title | Home - Illinois Automobile Dealers Association |
Description | My name is Pat Manning, and I am the Chairman of your state association. I would like to update you on the changes taking place in our industry starting January 1st. $10,000 Trade-In Cap Starting January 1, 2020, the tax credit for a motor vehicle trade-in will be capped at $10,000. For example, a customer who trades in a vehicle valued at $20,000 against the purchase of a $36,000 vehicle currently receives a tax credit for the entire value of the trade-in and pays tax on the $16,000 difference. However, starting January 1st, the same customer would receive a tax credit for only $10,000 and pay tax on $26,000—a $625 increase. Due to what is most likely a drafting error, the trade-in cap applies only to the trade of First Division Vehicles, such as passenger vehicles and SUVs, but does not apply to Second Division Vehicles such as heavy-duty trucks, pick-up trucks, or utility vans. Unfortunately, for dealers who hope to beat the system by taking an advance trade-in this year to apply to a purchase next year, the cap keys on the date of purchase rather than the date of trade. For additional details, the Illinois Department of Revenue Bulletin explaining the trade-in credit cap can be found here. Thank you to the many dealers who participated in IADA’s advocacy campaign and contacted their legislators and the Governor. IADA will reach out to you again during the Spring Session when we attempt to reverse the trade-in cap. Documentary Service Fee Increases to $300 Not everything during the Fall Veto Session was doom and gloom. IADA-backed legislation to increase the “Doc Fee” to $300, starting January 1st, remained intact, despite concern that the Doc Fee increase would get rolled back. The Doc Fee increase will help to reimburse dealers for the ever-expanding list of State and federal mandates related to the sale of motor vehicles. |
Keywords | N/A |
WebSite | www.illinoisdealers.com |
Host IP | 216.8.72.110 |
Location | Winchester, Illinois, United States |
Site | Rank |
cata.info | #4,998,482 |
marinochryslerjeepdodge.net | #6,614,197 |
US$4,324
Last updated: Nov 18, 2020
Illinoisdealers.com has global traffic rank of 3,922,525. Illinoisdealers.com has an estimated worth of US$ 4,324, based on its estimated Ads revenue. Illinoisdealers.com receives approximately 789 unique visitors each day. Its web server is located in Winchester, Illinois, United States, with IP address 216.8.72.110. According to SiteAdvisor, illinoisdealers.com is safe to visit. |
Purchase/Sale Value | US$4,324 |
Daily Ads Revenue | US$2 |
Monthly Ads Revenue | US$71 |
Yearly Ads Revenue | US$864 |
Daily Unique Visitors | 789 |
Note: All traffic and earnings values are estimates. |
Global Rank | 3,922,525 |
Delta (90 Days) | 0 |
Most Popular In Country | N/A |
Country Rank | N/A |
Host | Type | TTL | Data |
illinoisdealers.com | A | 59 | IP: 216.8.72.110 |
illinoisdealers.com | MX | 451 | Priority: 95 Target: d171446b.ess.barracudanetworks.com. |
illinoisdealers.com | MX | 451 | Priority: 90 Target: d171446a.ess.barracudanetworks.com. |
illinoisdealers.com | NS | 21407 | Target: ns2.hansoninfosys.com. |
illinoisdealers.com | NS | 21407 | Target: ns1.hansoninfosys.com. |
illinoisdealers.com | NS | 21407 | Target: ns3.hansoninfosys.com. |
illinoisdealers.com | TXT | 599 | TXT: v=spf1 ip4:216.8.73.112/28 ip4:216.8.94.74/32 include:_spf.votervoice.net include:simplelists.com include:relay1.weblinkinterna" "tional.com ~all |
illinoisdealers.com | SOA | 16383 | MNAME: ns1.hansoninfosys.com. RNAME: hostmaster.hansoninfosys.com. Serial: 1605721320 Refresh: 16384 Retry: 2048 Expire: 1048576 Minimum TTL: 2560 |
HTTP/1.1 301 Moved Permanently Date: Wed, 18 Nov 2020 17:42:08 GMT Server: Apache Location: https://illinoisdealers.com/ Content-Length: 236 Content-Type: text/html; charset=iso-8859-1 HTTP/1.1 200 OK Date: Wed, 18 Nov 2020 17:42:09 GMT Server: Apache Cache-Control: no-cache, private X-Frame-Options: SAMEORIGIN Set-Cookie: CONCRETE5=9abed1faf64296e5f3cc24ac5b63e951; path=/; HttpOnly Transfer-Encoding: chunked Content-Type: text/html; charset=UTF-8 |
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