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Illinois Income Tax Rate Decrease-January 2015

The Illinois Income Tax rate for individuals has decreased from 5% to 3.75%, effective January 1, 2015.

The new rate of withholding applies to

  • Employee compnesation (i.e., wages and salaries0 paid in Illinois
  • Unemployment paid to an Illinois rsident who has asked to have Illinois taxes withheld
  • Gambling or lottery winnings in Illinois, and
  • Purchases of rights to Illinois Lottery winnings.

*Illinois Department of Revenue Informational Bulletin January 2015

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