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Illinois Income Tax Calculator


Below is a table of the general merchandise sales tax rates for all of the counties in Illinois and the largest cities. When filing an income tax return in Illinois, taxpayers begin with their federal adjusted gross income . From there, certain items may be added back in, and others may be subtracted.

  • Some calculators may use taxable income when calculating the average tax rate.
  • Here’s a summary of all you need to know when you’re calculating payroll taxes for your hardworking Illinoisans!
  • We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
  • The following blog post examines the possibility of the City of Chicago instituting a city income tax.

Illinois residents 65 or older may qualify for the senior citizens homestead exemption, which reduces a home’s equalized assessed value by $8,000 if you’re a resident of Cook, Lake, Kane, Will, McHenry or DuPage counties. Tacks on a 29-cents-per-gallon tax on beer and levies 36 cents to $2.68 per gallon of liquor, depending on the percentage of alcohol. Help us achieve our vision of a world where the tax code doesn’t stand in the way of success. SmartAsset Advisors, LLC (« SmartAsset »), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S.

New Jersey state taxes 2021: Income and sales tax rates

The general merchandise illinois income tax rate tax applies to almost all other products purchased for use in Illinois. However most areas have additional local taxes between 1% and 4.75%. The highest combined sales tax in Illinois is 10.75% which belongs to the cities of Berwyn and Cicero. You can claim 5% of the real estate tax you paid on your principal residence on your Illinois tax return. You must own and live in the residence, and your income must be below $500,000 or $250,000 to be eligible for this tax credit.


The 10.25% sales tax rate in Chicago consists of 6.25% Illinois state sales tax, 1.75% Cook County sales tax, 1.25% Chicago tax and 1% Special tax. The sales tax jurisdiction name is Chicago Metro Pier And Exposition Authority District, which may refer to a local government division. For tax rates in other cities, see Illinois sales taxes by city and county.

How does the Chicago sales tax compare to the rest of IL?

Groceries and healthcare are right at the national average and transportation is about 26% higher than average. This includes gas, car insurance, car purchase, and maintenance. That tax load is nearly 39% more annually than the nation’s average.

In January 2014, the non-partisan business group Civic Federation of Chicago estimated that the prescribed cut in income tax would yield decreased revenues of $1.4 billion in FY15 growing to $2.7 billion in FY16. Governor Pat Quinn proposed extending the 5 percent flat tax indefinitely, while other groups sought to use a graduated tax to raise revenues. Under current law, Illinois’s state income tax rate is a flat rate of 4.95 percent. A flat income tax, which taxes all income levels at the same rate, is required by the current Illinois state constitution.

Compare Your After-Tax Income To Other States

Pay FUTA unemployment taxes, which is 6% of the first $7,000 of each employee’s taxable income. You can claim a tax credit of up to 5.4% for the state unemployment tax you pay. Only you as the employer are responsible for paying FUTA taxes. Another way of describing the U.S. tax system is by saying that most Americans are charged a marginal tax rate. In other words, the last dollar that an American earns is taxed more than the first dollar.

Illinois does not tax personal property, such as boats, cars and RVs. Unemployment compensation is taxed in Illinois as part of your adjusted gross income, whether you’re a resident or were employed in the state. The state of Illinois collects 39.2 cents for every gallon of regular gasoline. The diesel tax rate is also quite high at 46.7 cents per gallon.

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