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 Il Rate Tax Income 2019-2025

A 114 2019-2025 Form

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there's a widespread assumption that taxes in Illinois are terribly High much worse than our neighbors but is this accurate the bipartisan Illinois Economic Policy Institute recently compared the tax situation in Illinois to our neighbors and the results of this examination might be surprising let's have a refresher on basic taxes in Illinois Illinois has a flat tax so no matter how much you make your rate is still the same 3.75% Illinois does not tax retirement income retirees living off pension checks Social Security checks or 401K savings don't pay any state income taxes in Illinois Illinois has a sales tax but that tax is only on Goods not Services the tire is taxed but the labor to replace it isn't okay let's check our neighbors starting to the north with Wisconsin Wisconsin has a progressive income tax the more you make the higher the rates the more you pay Wisconsin's tax rates range from 4% up to 7.65% Wisconsin taxes retirement i

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