Form Rut-75-X - Amended Aircraft/watercraft Use Tax Transaction Return Page 4
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4Write the purchase or fair market value. Attach a copy of the
Step 4: Sign below
purchase agreement/invoice. If the purchase price is less than the fair
We cannot process this form until it is signed by the owner, offi cer, or
market value, you must write the fair market value on the date that
other person authorized to sign the original return.
the item was acquired or brought into Illinois, whichever is later. The
item’s purchase price and any amount of tax previously paid must be
Penalties and interest information
clearly and separately stated.
If, on this amended return, you are increasing the amount of tax
If our review of this return results in a question about the purchase
due, we will bill you for any additional penalty and interest that we
price or fair market value stated, we have the authority to determine
calculate is due.
the item’s fair market value through an independent valuation. We will
If, on this amended return, you are reducing the amount of tax due,
send you a notice if additional tax is owed.
we will recalculate any penalty and interest that is due and include
Aircraft purchase or transfer - Attach a copy of the FAA bill of sale.
the recomputed amounts in determining the amount you have
overpaid.
Watercraft purchase or transfer - The purchase price or fair market
value must include the value of any motor sold with, or as part of, the
You owe a late fi ling penalty if you do not fi le a processable return
transaction. If the transaction is between immediate family members,
by the due date, a late payment penalty if you do not pay the
write the amount paid. Otherwise, write the fair market value or
amount you owe by the original due date of the return, a bad check
purchase price of the watercraft on the date that the watercraft was
penalty if your remittance is not honored by your fi nancial institution,
purchased or the date it was brought into Illinois, whichever is later.
and a cost of collection fee if you do not pay the amount you owe
Line 2: Multiply Step 3, Line 1 by 6.25% (.0625).
within 30 days of the date printed on an assessment. For more
information, see Publication 103, Penalties and Interest for Illinois
Line 3: Write the amount of tax paid to another state and the name
of the state on the line provided. We will allow credit only if the tax
Taxes. To receive a copy of this publication, visit our web site at
previously paid was properly due and separately stated on the proof
tax.illinois.gov or call us at 1 800 356-6302.
of tax payment. Attach proof of both the purchase price and the
amount of tax you previously paid to another state.
Line 5: Write the total amount you have paid. This fi gure includes
the amount you paid with your original Form RUT-75, the amount
you paid with any subsequent amended returns, and any
assessment payments you have made. Be sure to reduce the
total amount paid by any refund of tax you have received for this
transaction.
Line 6: If Line 5 is greater than Column B, Line 4, subtract Column
B, Line 4 from Line 5 and write the difference on Line 6. This is the
amount you have overpaid.
Line 7: If Line 5 is less than Column B, Line 4, subtract Line 5 from
Column B, Line 4 and write the difference on Line 7. This is the
amount you have underpaid. Please pay this amount when you fi le
this return. We will bill you for any additional tax, penalty, and interest
that we calculate is due.
Please write the amount you are paying on the line provided in the
“Read this information fi rst” section on the front of the return.
RUT-75-X (R-9/10)
Page 4 of 4
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