Taxes
Corporate Income Tax
4.8% of net income (statewide)
Source: Illinois Department of Revenue
http://tax.illinois.gov/Publications/Sales/SalesTaxRates/FixedRatesIncome.htm
Personal Income
3% of net income (statewide)
Source: Illinois Department of Revenue
http://tax.illinois.gov/Publications/Sales/SalesTaxRates/FixedRatesIncome.htm
Workers’ Compensation
Cost for a typical manufacturing job in Illinois is $3.65 per $100 of payroll.
Source: U.S. Bureau of Labor Statistics
Machinery & Equipment
• Exempt if used over 50% of the time
• Applies to heavy manufacturing machinery only
• Does not apply to small equipment such as hand tools, supplies, coolants, adhesives, etc.
Personal Property Tax
2.5% of net income
Inventory
None in the state of Illinois
Sales
6.75%
Source: Illinois Department of Revenue
https://www.revenue.state.il.us/app/trii/servlet/TRIInquiry/3123400541217353264016?jobid=09614