Illinois is the freight crossroads of the country: Chicago moves more intermodal containers than any inland city, O'Hare is in the middle of an $8.5 billion terminal program, Rebuild Illinois is the largest capital plan in state history, and data centers are going up from the suburbs to downstate. Corn and soybeans cover the rest of the state. Illinois also adds back federal bonus depreciation and taxes equipment leases on each payment.
We place Illinois files with lenders that fund trucking, construction, farm, and manufacturing equipment across the state, from a Joliet carrier to a Rockford excavating contractor to a Champaign County grain operation. Options in 24 to 48 hours on a soft inquiry.
Who we finance in Illinois
What is driving equipment demand in Illinois
- Rebuild Illinois, the state's $45 billion capital program, plus federal infrastructure money on top.
- The O'Hare 21 terminal program, roughly $8.5 billion, with the Global Terminal under construction.
- More than 200 data centers statewide and new projects under negotiation for state tax credits.
We work with businesses across Illinois, including Chicago, Aurora and Naperville, Joliet, Rockford, Peoria, and Springfield, and the rural counties in between.
Sales tax and income tax on equipment in Illinois
Tax rules change and depend on your facts. Confirm with your accountant before relying on any of this.
Trucks, trailers, and titling in Illinois
- Apportioned registration for interstate carriers through the Illinois Secretary of State. No weight-distance tax.
- Off-road equipment used on private land is not titled or plated.
Where Illinois buyers find equipment
We finance equipment from any dealer, auction, or private seller. Dealers and auctions our Illinois customers use include Altorfer CAT (Caterpillar, Illinois and neighboring states), Sloan Implement, Birkey's, and Central Illinois Ag (John Deere). Get pre-approved before you go so the seller sees a buyer who can close.
Equipment we finance
Excavators · Dozers and loaders · Skid steers · Semi trucks · Trailers · Farm equipment · Cranes and lifts
About financing in Illinois
Equipment financing in Illinois is arranged through Land Tech Capital's network of third-party lenders and lessors. Land Tech Capital is a New York based commercial finance broker, not a lender, and does not hold a Illinois license. Your financing agreement will be with the lender or lessor, who provides any disclosures Illinois law requires. No fee is charged to you before funding, and we are paid by the lender when a deal closes.
Questions we get
Is a semi tractor exempt from Illinois sales tax?
Tractors and trailers used by interstate carriers qualify for the rolling stock exemption. File Form RUT-7 with the dealer at purchase.
Does Illinois allow bonus depreciation?
No. You take 100 percent bonus on the federal return, add it back on the Illinois return, and recover it through subtractions over the following years.
Do you finance equipment for a new Chicago-area carrier?
Yes. Start-up trucking programs count driving and dispatch experience, with 10 to 20 percent down and a personal guarantee on the first unit.
