Covered Bridge in Whiteside County
Taxes
Personal Income: 3% of net income (statewide)
Source: Illinois Department of Revenue
Sales Tax: 6.75%
Source: Illinois Department of Revenue
Corporate Income Tax: 4.8% of net income (statewide)
Source: Illinois Department of Revenue
Worker’s 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 Tax
- 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.
Inventory Tax
None in the state of Illinois
Incentives:
- Illinois does not tax water and sewer utilities.
- Electricity and natural gas tax exemptions are available in Illinois Enterprise Zones (certain job creation criteria apply).
