Paycheck Calculator Illinois

by
paycheck calculator illinois
Weekly (52 Pay Periods)Bi-Weekly (26 Pay Periods)Semi-Monthly (24 Pay Periods)Monthly (12 Pay Periods)
SingleMarried Filing JointlyHead of Household
Results:
Take-Home Pay: $0.00
Gross per period: $0.00
Federal Withholding (est): $0.00
Illinois State Tax (4.95%): $0.00
Social Security (6.2%): $0.00
Medicare (1.45%): $0.00
Pre-tax Deductions: $0.00
function calculatePaycheck(){var annualGross=parseFloat(document.getElementById('gross_pay').value);var freq=parseFloat(document.getElementById('pay_frequency').value);var preTax=parseFloat(document.getElementById('pretax_deduct').value);var stdDeduct=parseFloat(document.getElementById('filing_status').value);if(isNaN(annualGross)||isNaN(preTax)){alert('Please enter valid numeric values');return;}var grossPerPeriod=annualGross/freq;var taxableIncomeFed=Math.max(0,(annualGross-stdDeduct)/freq);var fedTaxEst=0;if(taxableIncomeFed>0){if(taxableIncomeFed<200)fedTaxEst=taxableIncomeFed*0.10;else if(taxableIncomeFed<800)fedTaxEst=taxableIncomeFed*0.12;else fedTaxEst=taxableIncomeFed*0.22;}var stateTax=grossPerPeriod*0.0495;var ssTax=grossPerPeriod*0.062;var medTax=grossPerPeriod*0.0145;var netPay=grossPerPeriod-fedTaxEst-stateTax-ssTax-medTax-preTax;document.getElementById('netValue').innerHTML=netPay.toLocaleString(undefined,{minimumFractionDigits:2,maximumFractionDigits:2});document.getElementById('grossPer').innerHTML=grossPerPeriod.toFixed(2);document.getElementById('fedTax').innerHTML=fedTaxEst.toFixed(2);document.getElementById('stateTax').innerHTML=stateTax.toFixed(2);document.getElementById('ssTax').innerHTML=ssTax.toFixed(2);document.getElementById('medTax').innerHTML=medTax.toFixed(2);document.getElementById('deductVal').innerHTML=preTax.toFixed(2);if(document.getElementById('show_steps').checked){document.getElementById('breakdownContent').style.display='block';}else{document.getElementById('breakdownContent').style.display='none';}}

How to Use the Paycheck Calculator Illinois

Calculating your take-home pay in the Prairie State requires understanding specific state mandates. This paycheck calculator illinois is designed to help employees and employers estimate net earnings after all mandatory taxes and voluntary deductions are removed.

To get an accurate result, follow these steps:

Annual Gross Salary
Enter your total yearly earnings before any taxes or insurance are taken out.
Pay Frequency
Select how often you get paid (e.g., Bi-weekly is every two weeks, Semi-monthly is twice a month).
Pre-Tax Deductions
Include any 401(k) contributions, health insurance premiums, or FSA amounts that are deducted before tax is applied.

How It Works: Illinois Tax Laws

Illinois is unique because it utilizes a flat income tax rate. Unlike the federal government, which uses graduated brackets, everyone in Illinois pays the same percentage of their taxable income to the state.

Net Pay = Gross Pay – Federal Withholding – Illinois State Tax – FICA (Social Security & Medicare) – Deductions

  • Illinois Flat Tax: Currently set at 4.95%.
  • FICA Social Security: 6.2% of your gross pay (up to the annual wage base limit).
  • FICA Medicare: 1.45% of your gross pay.
  • Federal Withholding: Based on your filing status and taxable income levels.

Calculation Example

Example: An individual in Chicago earning $65,000 annually, paid bi-weekly, filing as Single, with no pre-tax deductions.

Step-by-step breakdown:

  1. Gross Pay per Period: $65,000 / 26 = $2,500.00
  2. Illinois State Tax: $2,500.00 × 4.95% = $123.75
  3. Social Security: $2,500.00 × 6.2% = $155.00
  4. Medicare: $2,500.00 × 1.45% = $36.25
  5. Estimated Federal Tax: ~$310.00 (varies by filing status)
  6. Final Net Pay: $2,500.00 – $123.75 – $155.00 – $36.25 – $310.00 = $1,875.00

Common Questions

Does Illinois have local city income taxes?

No. Unlike states like Ohio or Pennsylvania, Illinois does not allow municipalities to charge local income tax. Whether you live in Chicago, Aurora, or Springfield, you only pay the flat state rate of 4.95%.

What is the personal exemption in Illinois?

For the 2024 tax year, the basic personal exemption for Illinois is $2,775 per person. This reduces the amount of your income that is subject to the 4.95% tax rate.

How do pre-tax deductions affect my Illinois paycheck?

Pre-tax deductions like 401(k) contributions reduce your "Adjusted Gross Income." Since the Illinois state tax is based on this figure, contributing to a retirement plan actually lowers the dollar amount you pay in state taxes.

Leave a Comment