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1. • • Illinois does not have tax brackets, so calculating your rate should be pretty simple. If you have a dollar or $1 billion that is subject to Illinois income tax, you owe 4.95% of that money to the state.
     www.nerdwallet.com/article/taxes/illinois-tax

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

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   What is the Illinois income tax rate?

   • The Illinois income tax rate is a flat 4.95%. Unlike the federal government and many other states, Illinois does not have tax brackets that impose higher rates on people who earn more. Illinois state income taxes were due on the same day as federal income taxes: April 15, 2024, for tax year 2023.

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

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

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   Which laws exempt certain income from Illinois income tax?

   • The Constitution, treaties or statutes of the United States, and the Illinois Constitution exempt certain income from Illinois Income Tax. Illinois law also exempts income of certain obligations of state and local governments from Illinois Income Tax.

   Publication 101, Income Exempt from Tax - Illinois Department of Reven…

   tax.illinois.gov/content/dam/soi/en/web/tax/research/publications/pubs/documents/pub-101.pdf

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   Do I have to pay income tax in Illinois?

   • If you work in Illinois but live in another state except Wisconsin, Iowa, Kentucky, or Michigan, you must pay tax to Illinois on any income you earn there. Illinois has reciprocity with these four states, so residents can cross state lines to work there without worrying about paying income tax to their non-resident state.

   A Guide to the Illinois State Income Tax - The Balance

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

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   Does Illinois have a tax code?

   • Overall, Illinois’s tax system ranks 37th on our 2024 State Business Tax Climate Index. Each state’s tax code is a multifaceted system with many moving parts, and Illinois is no exception. The first step towards understanding Illinois’s tax code is knowing the basics.

   Illinois Tax Rates & Rankings | Illinois Taxes - Tax Foundation

   taxfoundation.org/location/illinois/

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   Is Illinois a flat tax state?

   • Illinois is a flat tax state, which means that all taxpayers pay the same rate regardless of income. This is different from progressive tax systems where tax rates gradually increase as taxpayers earn more.

   A Guide to the Illinois State Income Tax - The Balance

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

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   Does Illinois include adjusted gross income?

   • Your Illinois income includes the adjusted gross income (AGI) amount figured on your federal return, plus any additional income that must be added to your AGI. Some of your income may be subtracted when figuring your Illinois base income. For more information, see the IL-1040 Step-by-Step Instructions and Publication 101.

   Taxable Income - Illinois Department of Revenue

   tax.illinois.gov/individuals/taxableincome.html

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3. taxfoundation.org › location › illinoisIllinois Tax Rates & Rankings | Illinois Taxes - Tax Foundation

   taxfoundation.org › location › illinois

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   How does Illinois’s tax code compare? Illinois has a flat 4.95 percent individual income tax rate. Illinois has a 9.5 percent corporate income tax rate. Illinois also has a 6.25 percent state sales tax rate and an average combined state and local sales tax rate of 8.86 percent.

4. www.morganlewis.com › pubs › 2021Illinois Makes Significant Changes to Tax Code – Publications

   www.morganlewis.com › pubs › 2021

   Jun 25, 2021 · Illinois Makes Significant Changes to Tax Code. June 25, 2021 (Updated September 15, 2021) Note, this LawFlash has been updated as legislation discussed below has been signed into law. Illinois Governor J.B. Pritzker signed into law various bills on June 17, including the state budget bill, S.B. 2017 (Budget Bill), which contains several ...

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

   www.nerdwallet.com › article › taxes

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   Apr 23, 2024 · Illinois does not have tax brackets, so calculating your rate should be pretty simple. If you have a dollar or $1 billion that is subject to Illinois income tax, you owe 4.95% of that...

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

   www.thebalancemoney.com › illinois-individual

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   Jan 15, 2022 · Here's what you need to know about the Illinois state income tax, from the state's flat tax rate to available deductions, credits, and exemptions.

7. tax.illinois.gov › content › damPublication 101, Income Exempt from Tax

   tax.illinois.gov › content › dam

   • define income that is exempt from Illinois Income Tax as outlined in the Illinois Income Tax Rules. • identify exceptions. • explain how to claim a subtraction of exempt income on your Illinois Income Tax return.

8. www.statepedia.org › us › individual-income-taxIllinois Individual Income Tax: Complete Guide - Statepedia

   www.statepedia.org › us › individual-income-tax

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   Feb 27, 2023 · Discover Illinois's individual income tax, which applies to both residents and non-residents of the state. The tax is calculated based on an individual's federal-adjusted gross income and has a flat rate of 4.95%.

9. tax.illinois.gov › individuals › taxableincomeTaxable Income - Illinois Department of Revenue

   tax.illinois.gov › individuals › taxableincome

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   Taxable Income. Your Illinois income includes the adjusted gross income (AGI) amount figured on your federal return, plus any additional income that must be added to your AGI. Some of your income may be subtracted when figuring your Illinois base income.