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1. • Does not tax personal property

     • Illinois does not tax personal property, such as boats, cars and RVs.
     states.aarp.org/illinois/state-taxes-guide

     Illinois State Taxes 2023: Income, Property and Sales

2. People also ask

   How did Illinois replace personal property taxes?

   • a replacement for personal property taxes. The legislature even attempted to amend the Illinois Constitution to strike that equirement, a plan that ultimately failed.law enacted in 1979 created Personal Property Replacement Tax (PPRT), a mechanism to replace revenues lost by local governments wh

   Personal Property Replacement Taxes (PPRT) - IML

   iml.org/file.cfm?key=14820

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   Are personal property taxes eliminated in Illinois?

   • n personal property taxes were eliminated. The legislation included certain surcharges and taxes on corporations, partner hips, S corporations an the invested capital of a public utilityThe law requires the Illinois Department of Revenue (IDOR) to collect these taxes and allocate 51.65% to local governments in Cook County and 48.35% to l

   Personal Property Replacement Taxes (PPRT) - IML

   iml.org/file.cfm?key=14820

   See all results for this question

   Do I need to file Form Il 1040?

   • If you were ► an Illinois resident, you must file Form IL-1040 if you were required to file a federal income tax return, or you were not required to file a federal income tax return, but your Illinois base income from Line 9 is greater than your Illinois exemption allowance.

   2023 IL-1040 Instructions - Illinois Department of Revenue

   tax.illinois.gov/content/dam/soi/en/web/tax/forms/incometax/documents/currentyear/individual/il-1040-instr.pdf

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   Do I need to file a state tax return in Illinois?

   • You have to file an Illinois state tax return if: You’re an Illinois resident and you’re required to file a federal tax return. You’re an Illinois resident without a federal filing requirement, but your Illinois income exceeds your exemption allowance.

   Illinois State Income Tax: Rates and Who Pays in 2023-2024

   www.nerdwallet.com/article/taxes/illinois-tax

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   How can I claim a property tax credit in Illinois?

   • To claim the property tax credit in Illinois, you must complete Schedule ICR with your Illinois tax return. The property tax credit is equal to 5% of the Illinois property tax paid on your primary residence. You must own the residence and your federal AGI cannot exceed $250,000 (or $500,000 for married filing jointly).

   A Guide to the Illinois State Income Tax - The Balance

   www.thebalancemoney.com/illinois-individual-state-income-tax-3193262

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   Do I need to file Il 1040 if I'm a part-year resident?

   • a part-year resident, you must file Form IL-1040 and Schedule NR, Nonresident and Part-Year Resident Computation of Illinois Tax, if you earned income from any source while you were a resident, you earned income from Illinois sources while you were not a resident, or you want a refund of any Illinois Income Tax withheld.

   2023 IL-1040 Instructions - Illinois Department of Revenue

   tax.illinois.gov/content/dam/soi/en/web/tax/forms/incometax/documents/currentyear/individual/il-1040-instr.pdf

   See all results for this question

3. tax.illinois.gov › localgovernments › personalPersonal Property Replacement Tax - Illinois Department of ...

   tax.illinois.gov › localgovernments › personal

   • Cached

   Personal property replacement taxes (PPRT) are revenues collected by the state of Illinois and paid to local governments to replace money that was lost by local governments when their powers to impose personal property taxes on corporations, partnerships, and other business entities were taken away.

4. tax.illinois.gov › content › dam2023 IL-1040 Instructions - Illinois Department of Revenue

   tax.illinois.gov › content › dam

   If you were an Illinois resident, you must file Form IL-1040 if you were required to file a federal income tax return, or you were not required to file a federal income tax return, but your Illinois base income from Line 9 is greater than your Illinois exemption allowance.

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6. itctax.com › what-is-personal-property-taxPersonal Property Taxes Explained: What They Are & How They Work

   itctax.com › what-is-personal-property-tax

   • Cached

   What is Personal Property Tax? Personal property taxes, levied on movable assets like vehicles and machinery, differ from real property taxes, which target fixed assets such as land and buildings. These taxes contribute significantly to local revenues and cover both personal and business assets.

7. iml.org › filePersonal Property Replacement Taxes (PPRT) - IML

   iml.org › file

   A law enacted in 1979 created Personal Property Replacement Tax (PPRT), a mechanism to replace revenues lost by local governments when personal property taxes were eliminated. The legislation

8. tax.illinois.gov › forms › incometax2023 IL-1040 Schedule ICR Instructions

   tax.illinois.gov › forms › incometax

   • Cached

   Schedule ICR, Illinois Credits, allows you to figure the total amount of property tax, K-12 education expense, and Volunteer Emergency Worker credits you may claim on Form IL-1040, Individual Income Tax Return.

9. www.thebalancemoney.com › illinois-individualA Guide to the Illinois State Income Tax - The Balance

   www.thebalancemoney.com › illinois-individual

   • Cached

   Jan 15, 2022 · The property tax credit is equal to 5% of the Illinois property tax paid on your primary residence. You must own the residence. You can't claim this credit if your federal AGI exceeds $250,000, or $500,000 if you're married and file a joint return.

10. www.nerdwallet.com › article › taxesIllinois State Income Tax: Rates and Who Pays in 2023-2024

    www.nerdwallet.com › article › taxes

    • Cached

    Apr 23, 2024 · Illinois state income tax rates and tax brackets. Illinois does not have tax brackets, so calculating your rate should be pretty simple. If you have a dollar or $1 billion that...