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New Illinois Tax Law

ATTENTION ILLINOIS RESIDENTS!

January 1st, 2020 a new law in Illinois takes effect that may impact your car buying experience.

 

This law caps your trade-in credit at $10,000 ( previously unrestricted). It affects cars purchased in and out of state.

What this means to you is that as of January 1st 2020, you will be taxed on your trade-in vehicles value over the first $10,000. So you will end up paying more in taxes.

Stop in to Deery Brothers today to upgrade your vehicle and take advantage of the tax credit savings while you still can!

Here is an example of the change coming in January: