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What is the tax rate for exempt organizations?

Answer #95 -- ( Published 08/05/2005 09:37 AM | Updated 07/12/2017 10:38 AM )

What is the tax rate for exempt organizations?

Exempt organizations may be formed as either a corporation or a trust. Therefore, exempt organizations pay both regular income tax and the Personal Property Tax Replacement Income Tax (replacement tax), but the rates differ.

Corporations

  • Income Tax:
    • Check the Tax Rate Database for current rates
    • 5.25 percent for income received or accrued on or after January 1, 2015
      Note: Due to a tax rate change that occurs during their tax year, taxpayers with tax years ending after December 31, 2014, and before December 31, 2015, must divide their total net income between the periods subject to different rates. See Informational Bulletin FY 2015-09, Illinois Income Tax Rate Decrease, for more information.
    • 7 percent for income received or accrued on or after January 1, 2011, and before January 1, 2015
      Note: Due to a tax rate change that occurs during their tax year, taxpayers with tax years ending after December 31, 2010, and before December 31, 2011, must divide their total net income between the periods subject to different rates. See Informational Bulletin FY 2011-09, Illinois Income Tax Increase, for more information.
    • 4.8 percent for income received or accrued on or before December 31, 2010
  • Replacement Tax: Check the Tax Rate Database for current rates

Trusts

  • Income Tax:
    • Check the Tax Rate Database for current rates
    • 3.75 percent for income received or accrued on or after January 1, 2015
      Note: Due to a tax rate change that occurs during their tax year, taxpayers with tax years ending after December 31, 2014, and before December 31, 2015, must divide their total net income between the periods subject to different rates. See Informational Bulletin FY 2015-09, Illinois Income Tax Rate Decrease, for more information.
    • 5 percent for income received or accrued on or after January 1, 2011, and before January 1, 2015
      Note: Due to a tax rate change that occurs during their tax year, taxpayers with tax years ending after December 31, 2010, and before December 31, 2011, must divide their total net income between the periods subject to different rates. See Informational Bulletin FY 2011-09, Illinois Income Tax Increase, for more information.
    • 3 percent for income received or accrued on or before December 31, 2010
  • Replacement Tax: Check the Tax Rate Database for current rates

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