Illinois Income Tax Guide for 2024
Overview
Illinois has a flat income tax rate of 4.95%. Capital gains are taxed as ordinary income. The state offers personal exemptions of $2,775 and dependent exemptions of $2,775.
Income Tax Rates
Single Filers
| Income Range | Tax Rate |
|---|---|
| All income | 4.95% |
Married Filing Jointly
| Income Range | Tax Rate |
|---|---|
| All income | 4.95% |
Capital Gains Tax
Capital gains are taxed at the same rates as ordinary income.
Deductions & Exemptions
| Type | Amount |
|---|---|
| Personal Exemption (Single) | $2,775 |
| Personal Exemption (Married) | $5,550 |
| Dependent Exemption | $2,775 |
Additional Information
- Illinois has no standard deduction; it uses a personal exemption allowance instead
- The 2024 exemption allowance is $2,775 per person ($5,550 for married filing jointly) and $2,775 per dependent
- No exemption allowance is available if federal adjusted gross income exceeds $500,000 (married filing jointly) or $250,000 (all other filing statuses)
Charts
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Sources
The 2024 figures for Illinois on this page were compiled from the following official government publications:
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