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State Income Tax Rates for 2024-2025. Caitlyn Moorhead. December 11, 2024 at 7:22 PM. ... States with flat-tax systems, like Illinois, tax all qualifying income at a single rate. In states like ...
Tax rates may differ for individuals and ... The accelerated phase-out of a tax on dividends and interest completed at the start of 2025. [15] ... Illinois – 4.95% ...
Under current law, Illinois's state income tax rate is a flat rate of 4.95 percent. ... This page was last edited on 18 January 2025, at 22:25 (UTC).
The tax rate listed is the one that applies to income from work, ... Illinois [57] 4.95% — — ... 3% in 2024, and the tax was repealed in 2025. [131] [132] ...
The 2024 tax rates haven’t been published on its taxation website yet, but Ohio’s 2024–2025 budget removed a state income tax bracket and reduced the top rate, leaving only two. Those with ...
Illinois. Won’t tax Social Security income. Won’t tax pension income. Won’t tax Thrift Savings Plan (TSP) income. ... 5 2025 SUVs the Middle Class Should Consider Buying.
State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales , income , excise taxes , and user fees . Some are levied directly from residents and others are levied indirectly.
Tax season 2025 will start Jan. 27 — that’s when the IRS will start accepting 2024 tax returns. ... 12%, 22%, 24%, 32%, 35% and 37%. While those income tax rates didn’t change for 2024, the ...