Illinois Statutes
§ 15-15 — Rate of tax
The rate of tax is 6.25% of the purchase price for each purchase of watercraft that is subject to tax under this Law. When an ownership share of a watercraft is acquired, the tax is imposed on the purchase price of that share. All owners are jointly and severally liable for any tax due as a result of the purchase, gift, or transfer of an ownership share of the watercraft.
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Illinois § 15-15 (Rate of tax) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 93-840, eff. 7-30-04.)
Nearby Sections
15
§ 15-1
Short title§ 15-100
§ 15-100§ 15-103
Bi-State Development Agency§ 15-105
Park and conservation districts§ 15-110
Municipal building corporations§ 15-115
Municipal power agencies§ 15-120
Municipal natural gas agencies§ 15-125
Parking areas§ 15-141
Water commission property§ 15-143
§ 15-143