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Illinois Department of Revenue, Illinois Tax

We’re Just Not Annoying®

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:

Illinois Department of Revenue
100 West Randolph Street
Chicago, IL 60601
Telephone: 800-732-8866 or 217-782-3336
Website:  http://www.revenue.state.il.us/

If you use Northwest Registered Agent as your Illinois registered agent, you’ll have an online account to track your company in, receive notification reminders to file your annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new Illinois businesses for only $100.

Corporate Compliance
by Local Corporate Guides®