Illinois Income Tax Rates Going Up

This post is a summary of the Illinois Department of Revenue's (IDOR) latest bulletin release concerning income tax rates in Illinois.

The rate increases are as follows:

  • Individuals (Most Taxpayers), Trusts, and Estates are increasing to 5% from 3%
  • Corporations (Not S Corporations) are increasing to 7% from 4.8%

These tax rates are in effect for all income received on or after January 1, 2011.

If you would like a copy of the complete increase notice bulletin provided by the IDOR click here

Tax PlanningEddie Patel