Illinois DOR Releases Instructions for Form RUT-75, Aircraft/Watercraft Use Tax Transaction Return

The Illinois Department of Revenue (DOR) Jan. 1 released instructions for sales and use tax Form RUT-75, Aircraft/Watercraft Use Tax Transaction Return. Taxpayers who acquire an aircraft or watercraft by gift, donation, transfer, or non-retail purchase must file Form RUT-75. A purchase from a person or business not in the business of selling aircraft or watercraft at retail is considered a non-retail purchase. Taxpayers must file Form RUT-25, Vehicle Use Tax Transaction Return, if they acquired the aircraft or watercraft from an unregistered out-of-state dealer, lending institution, or leasing company selling at retail. Form RUT-75 is due within 30 days ...