Illinois Income Tax
Illinois has a flat income tax with a rate of 4.95%. All taxable income is taxed at the same rate regardless of how much you earn.
Illinois Sales Tax
The state sales tax rate in Illinois is 6.25%. With an average local sales tax of 2.56%, the combined average sales tax rate is 8.81%.
Illinois Property Tax
The effective property tax rate in Illinois is 2.08%. With a median home value of $234,000, the median annual property tax bill is $5,100 ($425/month).
Property taxes in Illinois are significantly higher than the national average, which is an important factor for homebuyers.
Corporate & Business Taxes
The corporate tax rate in Illinois is 9.5%.
Other Taxes in Illinois
| Tax Type | Rate / Amount |
|---|---|
| Gas Excise Tax | $0.39/gallon |
| Cigarette Tax | $2.98/pack |
| Estate Tax | Yes |
| Inheritance Tax | No |
Key Facts
Second-highest property tax rates in the nation. Flat income tax is constitutionally mandated.
Compare to Other States
See how salaries compare on our average salary in Illinois page. Thinking about starting a business? Check our LLC guide for Illinois. See the current minimum wage in Illinois.
Financial Calculators
Plan your finances in Illinois with our free tools:
- Paycheck Calculator — estimate take-home pay after taxes
- Salary Calculator — convert hourly to annual pay
- Mortgage Calculator — estimate monthly home payments
- Home Affordability Calculator — see how property taxes affect what you can afford