Illinois Statutes
§ 1-186.5 — Selling price
Illinois § 1-186.5
JurisdictionIllinois
TopicTRANSPORTATION
Ch. 625VEHICLES
Act 625 ILCS 5/Illinois Vehicle Code.
Art.Chapter 1 - Title And Definitions
This text of Illinois § 1-186.5 (Selling price) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
625 Ill. Comp. Stat. 1-186.5 (2026).
Text
The consideration received for a motor vehicle subject to the tax imposed by Section 3-1001 valued in money, whether received in money or otherwise, including cash, credits, service, or property. In the case of gifts or transfers without reasonable consideration, "selling price" shall be deemed to be the fair market value as determined by the Department of Revenue.
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Legislative History
(Source: P.A. 90-89, eff. 1-1-98.)
Nearby Sections
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(Repealed)§ 1-101.5
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Bluebook (online)
Illinois § 1-186.5, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/625/1-186.5.