Exemption: $2,775 for 2024 Supplemental Wage / Bonus Rate: taxed same as regular income Register as an employer on the Illinois Development of Revenue website Employee's Withholding Tax Exemption Certificate: REG-1 Illinois State Unemployment Insurance (SUI) Illinois Wage Base: $13,590 for 2024...
wagering receipts (“AGSWR”) from sports wagering. As of July 1, 2024, the Sports Wagering Act, through Public Act 103-0592, now imposes a progressive tax rate on sports betting, significantly increasing the prior rate. This progressive tax rate raises the privilege tax on a master sports...
LLC earnings are subject to Illinois’s flat state income tax rate of 4.95%. This rate applies to all, making tax planning more straightforward. LLC owners can also leverage standard deductions and tax credits, which can lead to further tax savings. ...
Rate of Pay Paid LeaveandPaid Sick Leaveshall be compensated at the same rate and with the same benefits, including health care benefits, that the eligible employee regularly earns during hours worked. This doesn’t include overtime pay, premium pay, gratuities, or commissions. ...