Income Brackets In Illinois

Illinois income tax rate for 2019.

Income brackets in illinois. These brackets apply to every individual taxpayer s income the first bracket of your income will be taxed at the lowest rate the second bracket at the second lowest rate and so on. The center square the top marginal income tax rate for residents of illinois stands at 4 95 percent according to a new study of state individual income tax rates by the tax foundation. The federal income tax in contrast to the illinois income tax has multiple tax brackets with varied bracket width for single or joint filers. The illinois tax rate and tax brackets tabulated below are based on income earned between january 1 2019 through december 31 2019.

The state levies a single rate income tax on individuals. Illinois has a flat income tax rate which applies to both single and joint filers. Illinois has one individual income tax bracket with a flat rate of 4 95. That makes it relatively easy to predict the income tax you will have to pay.

Illinois collects a state income tax at a maximum marginal tax rate of spread across tax brackets. Individual income tax rates for prior years tax year ending rate. Below you will find 2019 illinois tax brackets and tax rates for all four il filing statuses. Unlike the federal income tax illinois state income tax does not provide couples filing jointly with expanded income tax brackets.

2015 through june 30 2017. Illinois maximum marginal income tax rate is the 1st highest in the united states ranking directly below illinois. The income tax rate in illinois is 4 95 after an increase from 3 75 in 2017. Alabama has just three separate tax brackets and rates with the maximum 5 rate affecting all income above just 3 000 for single filers or 6 000 for joint filers.

1 5 percent of net income. Employee compensation based on the number of allowances claimed by the employee illinois lottery winnings each time a single payment is over 1 000 for both illinois residents and nonresidents and. The state of illinois has a flat income tax which means that everyone regardless of income is taxed at the same rate. Illinois income tax rates were last changed four years ago for tax year 2016 and the tax brackets have not been changed since at least 2001.

View up to date information on how illinois is handling the coronavirus disease 2019 covid 19 from the state of illinois coronavirus response site.