Our partners cannot pay us to guarantee favorable reviews of their products or services. The telecommunications tax is a tax on services including home phone lines, cell phones, television service and internet. It varies by location, but is generally about 7% of the price of service.
Historic Tax Tables supported for Illinois
- Let us know in a single click, and we’ll fix it as soon as possible.
- The 2024 tax rates and thresholds for both the Illinois State Tax Tables and Federal Tax Tables are comprehensively integrated into the Illinois Tax Calculator for 2024.
- That makes it relatively easy to predict the income tax you will have to pay.
- Below is a table of the general merchandise sales tax rates for all of the counties in Illinois.
You can use the income tax estimator to the left to calculate your approximate Illinois and Federal income tax based on the most recent tax brackets. Illinois applies per-gallon alcohol excise taxes based on the alcohol content of the beverage being sold. Beer will generally be subject to a rate of 23 cents per gallon while wine and liquor are subject rates of $1.39 and $8.55 per gallon, respectively. The cigarette excise tax in Illinois is $2.98 per pack of 20.
things to know about Illinois state tax
Cook, Kane and Warren counties are home to the state’s highest combined sales tax rates of 11.50%, 11% and 11%, respectively. When calculating your Illinois income tax, keep in mind that the Illinois state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions. The Income tax rates and personal allowances in Illinois are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Illinois Tax Calculator 2024. The Federal income tax also has a standard deduction, personal exemptions, and dependant deductions, though they are different amounts than Illinois’ and may have different rules. The Personal Exemption, which is supported by the Illinois income tax, is recording transactions an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses.
Illinois State Income Tax: Rates and Who Pays in 2025
However, Illinois has a handful of tax-saving programs that may affect your final tax bill, and these can Accounts Receivable Outsourcing apply differently based on income or other life circumstances. We believe everyone should be able to make financial decisions with confidence. The following tax tables are supported by iCalculator™ US as part of the suite of free tax tools available in the US Tax HUB we provide for Illinois.
Illinois Standard Deductions & Personal Exemption Amounts
Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support. Technically, you don’t have just one “tax bracket” – you pay all of the Illinois marginal tax rates from the lowest tax bracket to the tax bracket in which you earned your last dollar. For comparison purposes, however, your Illinois tax bracket is the tax bracket in which your last earned dollar in any given tax period falls.
- Technically, you don’t have just one “tax bracket” – you pay all of the Illinois marginal tax rates from the lowest tax bracket to the tax bracket in which you earned your last dollar.
- From there, certain items may be added back in, and others may be subtracted.
- Head over to the Federal income tax brackets page to learn about the Federal Income Tax, which applies in all states nationwide.
- The Income tax rates and personal allowances in Illinois are updated annually with new tax tables published for Resident and Non-resident taxpayers.
- Cook, Kane and Warren counties are home to the state’s highest combined sales tax rates of 11.50%, 11% and 11%, respectively.
Illinois: Federal FICA Rates in 2024
Illinois also has illinois income tax rate reciprocity with the neighboring states of Iowa, Kentucky, Michigan and Wisconsin, which means those states don’t tax Illinois residents who work within their borders. So if you live in Illinois and work in Iowa, Kentucky, Michigan or Wisconsin, you’ll pay tax to your home state. Here are some key tax reduction programs in Illinois, and how to qualify. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. Here is a list of our partners and here’s how we make money.
