Illinois to limit tax credit on car trade in's

Due to a new broadening of the sales tax, Illinois residents won’t get as much back in value when they trade in their cars for new ones.

Beginning in 2020, a new law signed by Gov. J.B. Pritzker will apply Illinois’ sales tax to any traded-in vehicle’s worth over $10,000. That means trading in a $30,000 car for one worth $60,000 will cost the customer an extra $1,200 in additional sales taxes.

Pete Sander, president of the Illinois Automobile Dealers Association, said it could mean Illinois residents put off getting a new car or won't be able to afford as much car as before.

https://www.thecentersquare.com/illinois/illinois-will-soon-tax-trade-in-car-value-even-for/article_a82d683e-a363-11e9-b3e6-efe8ec3c4af1.html

I'm still waiting for the inevitable 'masturbation' tax.