New Illinois Tax Rates Take Effect from Passage of SB 9

State of Illinois flag
Illinois State Flag. Source: Shutterstock

SPRINGFIELD –(ENEWSPF)–July 11, 2017.   The Illinois Department of Revenue is providing general information regarding the recent Income Tax increase, and changes to various credits, deductions and additions to income.  Taxpayers are encouraged to review the information and web links below to determine how the recent change in tax rates impacts their status. For most taxpayers, their employers will change withholding amounts based on rate tables provided by the Department.

A summary of Illinois Income Tax and Sales Tax changes may be found here:

Illinois Income Tax increase guidance with detailed instructions for filing may be found here: http://tax.illinois.gov/Publications/Bulletins/2018/FY-2018-02.pdf.

Withholding Tax rates (Booklet IL-700-T) and personal exemption amount changes may be found here: http://tax.illinois.gov/Publications/Bulletins/2018/FY-2018-03.pdf.

For the most up-to-date information, forms, schedules, and instructions for the changes in tax rates, please visit IDOR’s website at: tax.illinois.gov.

Source: http://illinois.gov

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