Changes For Form Rut-50 Page 2
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4Changes for Form RUT-50
FY 2003-01
Page
I n f o r m a t i o n a l B u l l e t i n
2
May I use old versions of the
Note: See “When tax is due on
the purchase price of the vehicle”
form?
in the instructions on the back of
We recommend that you destroy all
Page 2 for further information on
old revisions of Form RUT-50 and
purchase price and fair market
use only the 7/02 revision of the
value.
form. Filing on an old revision of the
You must mark only ONE box
form may result in processing delays
from the items listed in Step 4
Line 11
or errors.
and Step 5. Mark the ONE box
Write the purchase price or, when
that describes your vehicle
applicable, the fair market value of the
When will the revised forms
transaction.
vehicle. See “When tax is due on the
and instructions be
purchase price of the vehicle” in the
For Step 4, Line 17d to apply,
instructions on the back of Page 2 of
available?
the actual purchase date of the
Form RUT-50 for further information.
vehicle must be provided to
We expect the revised form to be
substantiate that it was used
available in October 2002.
outside of Illinois for more than
We will send supplies of this form to
three months.
Office of the Secretary of State
For Step 4, Line 17h to apply,
Driver Services facilities located
This is a new line on the form.
the family relationship between
throughout the state,
In Line 12, write the odometer
the purchaser and seller must be
license remittance agents, and
reading of the vehicle.
a spouse, parent, brother, sister,
currency exchanges
or child.
where you apply for vehicle title and
Regardless of purchase price, a
registration.
$25 tax is due for a transaction
You may also request the form from
that is a motorcycle or ATV
us by telephone or mail.
reported in Step 5, Line 19a. Do
not use Table A or Table B to
How can I be sure that I am
calculate tax for this type of
using the correct revision of
transaction.
Line 19a
the form?
When your vehicle transaction is
For motorcycles and
fully taxable, you must use the
You can identify the revised RUT-50
ATV’s, $25 tax is due.
correct tax table (in the instruc-
by the revision date on the upper
tions) to figure your tax.
left-hand corner of the face of the
Line 19b
— Use Table A if the purchase
form. The revision date is July 2002;
If Line 11 is less than $15,000, mark
price (or fair market value,
it prints as “(R-7/02).”
this box and use Table A in the
when applicable) is less
instructions to figure the tax due.
What can I do to help avoid
than $15,000.
Line 19c
— Use Table B if the purchase
making errors on my return?
If Line 11 is $15,000 or more, mark
price (or fair market value,
this box and use Table B in the
We have listed below several items
when applicable) is $15,000
instructions to figure the tax due.
that you can verify before filing your
or more.
return to avoid some common report-
Form RUT-50 must be properly
ing errors:
signed and dated by the owner
On every Form RUT-50 you file,
and any co-owners.
you must provide the purchase
price (or fair market value, when
applicable) of the vehicle. The
line for the purchase price is now
located in Step 3, Line 11.
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