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| Visit Our Website
www.IllinoisDealers.com
Join our mailing list!
Do you know of other member dealership employees who should be receiving the IADA Electronic Bulletins? Let us know! Send an email to Meghan Sander (msander@illinoisdealers.com), Director of Communication, with the contact information of people who should be on our distribution list.
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2015 IADA OFFICERS
Chairman
Dave Taylor
Taylor Chrysler Dodge & Jeep, Inc.
Bourbonnais
Vice Chairman
Sam Roberts
Roberts Motors, Inc.
Alton
Treasurer
Jack Schmitt
Jack Schmitt Chevrolet
O'Fallon
Secretary
Dan Roesch
Roesch Auto Group
Elmhurst
President
Peter Sander
IADA
Springfield
IADA Staff Contacts:
Ph# 1-800-252-8944
Pete Sander
President
Ext. 103
psander@illinoisdealers.com
Larry Doll
Legal
Ext. 105
ldoll@illinoisdealers.com
Mark Harting
Administrative Services
Ext. 110
mharting@illinoisdealers.com
Mike Healey
Member Services
Ext. 107
mhealey@illinoisdealers.com
Joe McMahon
Legislative
Ext. 113
jmcmahon@illinoisdealers.com
Meghan Sander
Member Communications
Ext. 109
msander@illinoisdealers.com
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Your
IADA
Partner
Moving Vehicle Registration Into The Future
(click logo for more details)
Upcoming Webinars
April 21st
Erin Kerrigan and Ryan Kerrigan
Dealership Buy/Sell Marketplace of the Near Future... (12 PM CST)
Click here to register!
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April 23rd
Alec Beck
Ask the Expert: Understanding Employee Leave (12 PM CST)
Click here to register!
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April 17, 2015 Vol 2015, Issue 54
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LEGISLATIVE CONFERENCE MAY 5 - REGISTER TODAY
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The IADA Legislative Conference is less than a month away, plan to join us to make your voice heard in Springfield on Tuesday, May 5th.
Governor Bruce Rauner has been invited to speak along with Illinois legislative insider, Capitol Fax publisher, Rich Miller. Your will also receive Legislative, Legal and Regulatory updates impacting your dealership.
Working together we have a greater impact on the legislative process. Register today for IADA's Legislative Conference and help us represent your voice in Springfield. There is no cost to attend thanks to our Luncheon Sponsors CVR and Federated Insurance. CAR of Illinois is hosting the Legislative Reception/BBQ at the IADA offices overlooking our State Capitol.
Please, do not wait, click here for registration information. |
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REPEAL OF SUNDAY CLOSING HEARING POSTPONED
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Sen. Oberweis elected not to call either of his (3) Senate bills attempting to repeal the Sunday Closing law this week in the Senate Transportation Committee. The bills are expected to be called at next week's meeting of the Senate Transportation Committee. We will update you following next week's committee hearing. |
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U.S HOUSE REPEALS ESTATE TAX
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The House of Representatives passed a bill to repeal the 40 percent tax applied on estates worth more than $5 million, which dealers have long complained could saddle their family members with huge tax bills should they die unexpectedly. A similar bill has been introduced in the Republican-controlled Senate. |
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PHOENIX STUDY SHOWS CUSTOMERS BENEFIT FROM INTRA-BRAND PRICE COMPETITION AMONG DEALERS
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The Phoenix Center released a new analysis this month that addressed whether auto dealers for the same make and model of new cars and trucks compete on price. The study found that customers significantly benefit from "intra-brand" price competition for new cars - often in the hundreds of dollars per sale. Until this study, there had been little to no empirical on the price effects of intra-brand competition among dealer franchises for the same car model.
View full study here |
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LEGAL REMINDER: COMPLETE SALES TAX RETURNS FOR ALL AUCTION SALES
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If you sell a vehicle at auction, you must make sure to properly report the sale to the Illinois Department of Revenue on form ST-556. In most motor vehicle auctions, the identity of the seller is made known to the buyer at the time of sale, which means that the obligation to report the sale to the Department of Revenue is on the selling dealer, regardless of whether the transaction is taxable or exempt as a sale for resale or for some other reason. You must make sure that the auction provides you with the name and address of the purchasing dealer. Furthermore, if the sale qualifies as a sale for resale, make sure that be sure the auctioneer provides you with the correct information to document the resale exemption.
It is especially important to file the ST-556 when you sell vehicles for resale, either at auction or via a dealer trade, now that the Department of Revenue has begun imposing $100 fines for each zero dollar ST-556 return that is not timely filed.
If you have any questions about this bulletin, please feel free to contact IADA at (217) 753-0220 or ldoll@illinoisdealers.com. |
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