*Federal tax is a simplified estimate based on standard deductions for 2024. Local taxes and FICA are not included.
Understanding Your Pay in Illinois
Whether you are starting a new job in Chicago, Springfield, or Naperville, understanding your actual take-home pay is crucial. Illinois utilizes a unique tax structure compared to many other states, primarily known for its flat income tax rate.
Illinois Minimum Wage (2024 Update)
As of January 1, 2024, the standard minimum wage in Illinois has increased to $14.00 per hour. This is part of a scheduled series of increases that will reach $15.00 per hour by 2025. If you are tipped, the minimum wage is $8.40 per hour, provided your tips bring you up to the standard minimum.
The Illinois Flat Tax Rate
Unlike the federal government, which uses progressive tax brackets, Illinois applies a flat tax rate to all residents. For the current tax year, the Illinois Individual Income Tax rate is 4.95%. This means regardless of whether you earn $30,000 or $300,000, the state takes the same percentage from your taxable income.
How to Use the Illinois Pay Rate Calculator
To get an accurate estimate of your earnings, follow these steps:
Pay Amount: Enter the dollar amount you are paid (e.g., your hourly rate or annual salary).
Pay Period: Select how often you receive that amount.
Hours Per Week: If you are an hourly worker, enter your average hours. Standard full-time is usually 40.
Filing Status: Choose your tax filing status to help estimate federal withholding.
Example Calculation
If you earn $25.00 per hour and work 40 hours per week in Illinois:
Gross Weekly: $1,000
Gross Annual: $52,000
Illinois State Tax (4.95%): -$2,574 annually
Estimated Take-Home: Approx. $42,500 (after simplified federal and state tax)
Frequently Asked Questions
Question
Answer
Does Illinois have local income taxes?
No, unlike some states like Ohio or Pennsylvania, Illinois cities do not currently levy local income taxes.
What is the overtime rate in IL?
Non-exempt employees must be paid 1.5x their regular rate for any hours worked over 40 in a single workweek.
Are there exemptions for IL state tax?
Yes, Illinois provides a personal exemption ($2,775 for 2024) which reduces your taxable base.
function calculateIllinoisPay() {
var amount = parseFloat(document.getElementById('payAmount').value);
var period = document.getElementById('payPeriod').value;
var hours = parseFloat(document.getElementById('hoursPerWeek').value);
var status = document.getElementById('filingStatus').value;
if (isNaN(amount) || amount <= 0) {
alert("Please enter a valid pay amount.");
return;
}
if (isNaN(hours) || hours 0) fedTax += Math.min(fedTaxable, 11600) * 0.10;
if (fedTaxable > 11600) fedTax += Math.min(fedTaxable – 11600, 35550) * 0.12;
if (fedTaxable > 47150) fedTax += Math.min(fedTaxable – 47150, 53375) * 0.22;
if (fedTaxable > 100525) fedTax += (fedTaxable – 100525) * 0.24;
} else {
if (fedTaxable > 0) fedTax += Math.min(fedTaxable, 23200) * 0.10;
if (fedTaxable > 23200) fedTax += Math.min(fedTaxable – 23200, 71100) * 0.12;
if (fedTaxable > 94300) fedTax += Math.min(fedTaxable – 94300, 106750) * 0.22;
if (fedTaxable > 201050) fedTax += (fedTaxable – 201050) * 0.24;
}
var netAnnual = annualGross – ilTax – fedTax;
// Format results
document.getElementById('resAnnualGross').innerText = '$' + annualGross.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resMonthlyGross').innerText = '$' + (annualGross / 12).toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resILTax').innerText = '-$' + ilTax.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resFedTax').innerText = '-$' + fedTax.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('resNetAnnual').innerText = '$' + netAnnual.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('ilResults').style.display = 'block';
}