This quarter 5 jurisdictions have changed their fuel tax rates. Illinois Estate Tax Rate. The median property tax in Illinois is $3,507.00 per year for a home worth the median value of $202,200.00. The minimum combined 2021 sales tax rate for Dupage County, Illinois is . Illinois has state sales tax of 6.25%, and allows local governments to collect a … The Illinois state sales tax rate is 6.25%, and the average IL sales tax after local surtaxes is 8.19%.. The tax rates are updated periodically and might increase for businesses in certain industries that have higher rates of turnover. In addition, where the federal tax rate is set at 40 percent across the board, the Illinois estate tax rate varies up to 28.5 percent. As of 2020, estates worth less than $4 million are exempt. FREE for simple returns, with discounts available for Tax-Brackets.org users! The 2021 state personal income tax brackets are updated from the Illinois and Tax Foundation data. The Illinois State State Tax calculator is updated to include the latest State tax rates for 2021/2022 tax year and will be update to the 2022/2023 State Tax Tables once fully published as published by the various States. Qualifying deductions might include an itemized deduction, the Illinois standard deduction, exemptions for dependants, business expenses, etc. State Tax Tables | Download .CSV file of IL income tax brackets, Download or print Illinois income tax forms. You can think of the bracketed income tax as a flat amount for all of the money you earned up to your highest tax bracket, plus a marginal percentage of any amount you earned over that. The Capital Gains Tax Calculator is designed to provide you an estimate on the cap gains tax owed after selling an asset or property. Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support. Tax Rate File Downloads FINAL FUEL TAX RATE MATRICES FOR DOWNLOADING. And it isn’t uniform across the U.S., either. Prior to 2020, Illinois did not collect a sales tax on a car’s trade-in value unless the vehicle was worth more than $20,000. Illinois has a flat corporate income tax rate of 9.500% of gross income. 2020 Illinois State Sales Tax Rates The list below details the localities in Illinois with differing Sales Tax Rates, click on the location to access a supporting Sales Tax Calculator. The Illinois State Tax Tables below are a snapshot of the tax rates and thresholds in Illinois, they are not an exhaustive list of all tax laws, rates and legislation, for the full list of tax rates, laws and allowances please see the Illinois Department of Revenue website. The Illinois state sales tax rate is currently %. List of Illinois cities and their changes (up to 15) You are allowed credit for sales taxes paid to another state; however, if you pay tax to another state at less than the Illinois rates, you must pay Illinois the difference. Counties in Illinois collect an average of 1.73% of a property's assesed fair market value as property tax per year.. Illinois has one of the highest average property tax rates in the country, with only six states levying higher property taxes. One simple ratio known as the “tax burden” helps cut through the confusion. Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits. This site is a free public service not affiliated with the IRS or any governmental organization. Help us keep Tax-Brackets.org up-to-date! To determine the tax due for tax years ending on or after July 1, 2017, refer to Informational Bulletin FY 2018-02. 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