Illinois Income Tax Brackets 2024

tax bracket illinois

Colorado, for example, has a flat tax rate of 4.4% on taxable income, and some states, such as Wyoming, don’t have a state income tax. To learn more about how your state income tax rates work, visit the website of your state’s taxation and revenue department or the Federation of Tax Administrators. The idea of not having to pay state income taxes might sound good, but keep in mind that property taxes, sales taxes or other taxes and fees could be higher in those states. The stunning Illinois tax calculator helps you calculate how much of your Adjusted Gross Income (AGI) you will devote to taxes during 2022.

There are seven income tax rates for the 2024 tax year, ranging from 10% to 37%. The 2024 tax brackets apply to income earned this year, which is reported on tax returns filed in 2025. The state of Illinois has a flat income tax, which means that everyone, regardless of income, is taxed at the same rate. That makes it relatively easy to predict the income tax you will have to pay.

Illinois State Income Tax Credits

With NerdWallet Taxes powered by Column Tax, registered NerdWallet members pay one fee, regardless of your tax situation. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Here is a list of our partners and here’s how we make money. WGN News’ special coverage of the Illinois primary officially kicks off with Ray Cortopassi and Micah Materre, joined by political analysts Paul Lisnek, Tahman Bradley, Lisa Duarte, and Pat Brady. With 45% of the votes accounted for, early numbers show that nearly 67,000 residents have voted against the controversial “Bring Chicago Home” referendum.

If your taxable income went up by $1, you would pay 12% on that extra dollar, too. The national average adjusted gross income (AGI) reported by the IRS each year is about $70,000. A single Illinois taxpayer with $70,000 in wages would pay approximately $3,345 to the Illinois Department of Revenue. To calculate the effective illinois income tax rate income tax rate for the state of Illinois, we simply divide the previously calculated income tax estimate by our initial $70,000 in wages. State income tax return deadlines usually mirror the federal deadline, but exceptions exist. Residents of Virginia, for example, generally have until May 1 to file their state returns.


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