Article I of the United States Constitution created and empowered our legislative branch of government. The United States Congress leads the legislative branch. Congress includes both the House of Representatives and the Senate. Generally speaking, Congress makes our laws.
Income Tax returns and schedules. The Illinois Business Income Tax rate for tax years. ending on or after December 31, 2015, is 5.25 percent. (.0525) for taxpayers taxed as corporations, and 3.75. percent (.0375) for taxpayers taxed as trusts or estates. The instructions for overpayments to be carried forward.
You can learn more about how the Illinois income tax compares to other states' income taxes by visiting our map of income taxes by state. The Illinois income tax was lowered from 5% to 3.75% in 2015. Previously, the tax rate was raised from 3% to 5% in early 2011 as part of a statewide plan to reduce deficits.