Sec. 15-10. Tax imposed.

232 words·~1 min read·/il/chapter-35/act-158/15-10

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 15-10. Tax imposed. A tax is hereby imposed on the privilege of using, in this State, any watercraft acquired by gift, transfer, or purchase after September 1, 2004. This tax does not apply if:

(i)the use of the watercraft is otherwise taxed under the Use Tax Act;

(ii)the watercraft is bought and used by a governmental agency or a society, association, foundation, or institution organized and operated exclusively for charitable, religious, or educational purposes and that entity has been issued an exemption identification number under Section 1g of the Retailers' Occupation Tax Act;

(iii)the use of the watercraft is not subject to the Use Tax Act by reason of subsection (a), (b), (c), (d), or

(e)of Section 3-55 of that Act dealing with the prevention of actual or likely multi-state taxation;

(iv)the transfer is a gift to a beneficiary in the administration of an estate and the beneficiary is a surviving spouse; or

(v)the watercraft is exempted from the numbering provisions of Section 3-12 of the Boat Registration and Safety Act. However, the exemption from tax provided by item

(v)shall not apply to a watercraft exempted under paragraphs A, B, C, F, and G of Section 3-12 of the Boat Registration and Safety Act if such watercraft are used upon the waters of this State for more than 30 days in any calendar year.