What is the income tax rate for exempt organizations?

Exempt organizations may be formed as either a corporation or a trust. Therefore, exempt organizations pay both Illinois Income Tax and the Personal Property Replacement Tax, but the rates differ.

Corporations

  • Income Tax:  7 percent for income received or accrued. 
  • Replacement Tax: 2.5 percent of net income.

Trusts

  • Income Tax:  4.95 percent for income received or accrued. 
  • Replacement Tax: 1.5 percent of net income.

Note: Check the Tax Rate Database for prior rates.

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