USA State Taxes
ILLINOIS (IL)
STATE INCOME TAX (SIT)
| Description | Amount | Effective Date | Website | Deposit Method / Frequency / Threshold | Forms |
|---|---|---|---|---|---|
| Wage Withholding | 4.95% | 2024 |
Tax Tables - see forms.
|
EFT Semi-Weekly EFT Over $200,000 (Jan – Dec & EFT prior year). If annual or monthly schedule exceeds $12,000 during any quarter use semi-weekly. Annual - Due by 31-Jan of the following year Monthly - Due 15th of following month. Use IL-501 Payment Coupon File online or ACH credit at MyTax Illinois |
Withholding forms and Tax tables Withholding Income Tax Return - IL-941 Due quarterly or annually
Withholding Allowance Certificate - IL-W-4 |
| Supplemental Wage / Bonus Rate | 4.95% | 2024 |
| Notes: | Must file a return even if no tax was withheld during the quarter or year. IL has reciprocal agreements with Iowa, Kentucky, Michigan, and Wisconsin. |
STATE UNEMPLOYMENT INSURANCE (SUI)
| Description | Amount | Effective Date | Website | Deposit Method / Frequency / Threshold | Forms |
|---|---|---|---|---|---|
| Maximum Taxable Earnings | $13,590 | Increased from $13,271 in 2023 |
Illinois Department of Employment Security
|
Quarterly
MyTax Illinois(same as SIT), EFT or check. |
Contribution and Wage Report - UI-3/40 |
| Employee Deduction | None | ||||
|
Employer Tax Rate (Includes 0.55% fund-building surtax) |
0.850 - 8.65% | Increase from 2023 | |||
|
New Employment Rate - Standard (Includes 0.55% fund-building surtax) |
3.950% | Unchanged from 2023 | |||
| Voluntary Contribution Permitted | No |
NEW HIRE REPORTING
| Website | Frequency / Method | Forms |
|---|---|---|
|
|
Same as federal requirements. Registered employers can login to complete the online New Hire Reporting Web form or upload a file. |
WEBSITES
Disclaimer: This information is for reference only. To ensure accurate set up, we highly recommend that the information is verified with the applicable federal and state/provincial agencies. TimeTrex makes no claims, guarantees, or promises about the accuracy, current status, or completeness of the information provided. In no event shall TimeTrex be liable for any errors or omissions with respect to any resource information.
Last updated Jan 2024