Illinois Department Of Revenue, Illinois Tax

Illinois Business Corporate Tax, Illinois Personal Income Tax, Illinois Sales Tax Rates

What are the Illinois corporate net income tax rates?

9.5% for 2011-2014 tax years
7.75% for 2015-2024 tax years
7.3% for 2025 tax years and thereafter

What are the Illinois personal net income tax rates?

5% for 2011-2014 tax years
3.75% for 2015-2024 tax years
3.5% for 2025 tax years and thereafter

What is the average Illinois sales tax rate?

8.4%. The state has a 6.25% tax, but the average local tax is 2.15% making a total of 8.4%

Are there standard deductions?

Single:  none
Joint:  none

Are there personal exemptions?

Single:  $2,000
Dependents:  $2,000

For information about non-profit exemptions, see our Illinois Non-Profit Corporationpage.

What forms do you file for your Illinois taxes?

Illinois C corporations:   Form IL-1120
S corporations:  Form IL-1120 ST
Partnerships:  Form IL 1065
Individual:  Form IL-1040

Estimated tax payments?

Form IL-1120ES for corporations with more than $400 of tax due. Form IL-1040ES for personal returns (for members of an Illinois LLC) with more than $500 estimated tax.

Illinois Department of Revenue:

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