Updated May 10, 2026
Capital Gains: 4.95% (flat rate)Income Tax: 4.95% (flat rate)Tax Summary
Illinois treats cryptocurrency as property, following federal IRS guidelines. All crypto capital gains and income are taxed as ordinary income at a flat state rate of 4.95%. No special exemptions or thresholds apply specifically to crypto.
Quick facts for Illinois, United States
Capital Gains Tax
4.95% (flat rate)Income Tax Rate
4.95% (flat rate)Estimate your crypto taxes in United States
Use our free calculator to model trading gains, staking income, mining income, and other crypto income using the headline rates from the matching country guide.
Educational only. If the guide has a tax-rate range, the calculator will show a low/high estimate.
Open calculatorCapital Gains Tax
4.95% (flat rate)• Crypto capital gains follow federal classification but are taxed as ordinary income in Illinois.
• No state distinction between short-term and long-term gains; all at 4.95%.
• Report gains/losses via federal forms flowing to state return.
• No Illinois-specific exemptions or thresholds for crypto.
• No state distinction between short-term and long-term gains; all at 4.95%.
• Report gains/losses via federal forms flowing to state return.
• No Illinois-specific exemptions or thresholds for crypto.
Income Tax
4.95% (flat rate)• Mining income taxed as ordinary income at fair market value when received.
• Staking rewards taxed as ordinary income at fair market value on receipt.
• Follows federal rules; no state-specific adjustments.
• Taxed at flat 4.95% rate.
• Staking rewards taxed as ordinary income at fair market value on receipt.
• Follows federal rules; no state-specific adjustments.
• Taxed at flat 4.95% rate.
Reporting Requirements
• Report all crypto transactions via federal AGI on IL-1040 form.
• Use Schedule M for any federal/state differences (rare for crypto).
• File if Illinois taxable income exceeds $0 for most; standard thresholds apply.
• Deadline: April 15 following tax year; extensions available.
• Use Schedule M for any federal/state differences (rare for crypto).
• File if Illinois taxable income exceeds $0 for most; standard thresholds apply.
• Deadline: April 15 following tax year; extensions available.
Special Notes
• Illinois conforms to federal IRC for crypto taxation.
• No crypto-specific state forms or guidance from IL DOR.
• Flat tax simplifies calculations; no local income taxes on crypto.
• Focus on consumer protection laws, not tax changes as of 2026.
• No crypto-specific state forms or guidance from IL DOR.
• Flat tax simplifies calculations; no local income taxes on crypto.
• Focus on consumer protection laws, not tax changes as of 2026.
Other US States
Compare state-level crypto tax differences across the United States.
Alabama
CG: 2-5%Income: 2-5%
Alaska
CG: 0%Income: 0%
Arizona
CG: 2.5%Income: 2.5%
Arkansas
CG: 0-3.7% (50% deduction on long-term gains)Income: 0-3.7%
California
CG: 1%-13.3%Income: 1%-13.3%
Colorado
CG: 4.4% (flat rate)Income: 4.4% (flat rate)
Connecticut
CG: 2-6.99%Income: 2-6.99%
Delaware
CG: 2.2%-6.6%Income: 2.2%-6.6%
District of Columbia
CG: 4-10.75% (taxed as ordinary income)Income: 4-10.75%
Florida
CG: 0%Income: 0%
Georgia
CG: 5.19%Income: 5.19%
Hawaii
CG: Varies: short-term 1.4-11%, net long-term up to 7.25%Income: 1.4-11%
Idaho
CG: 0-5.3%Income: 0-5.3%
Indiana
CG: 2.95% state + 0.5%-3% local county (varies)Income: 2.95% state + 0.5%-3% local county (varies)
Iowa
CG: 3.8%Income: 3.8%
Kansas
CG: 5.2%-5.58%Income: 5.2%-5.58%
Kentucky
CG: 3.5%Income: 3.5%
Louisiana
CG: 3%Income: 3%
Maine
CG: 5.8%-9.15% (taxed as ordinary income)Income: 5.8%-9.15%
Maryland
CG: 2%-6.5% state + 2.25%-3.2% local; +2% surtax on net gains if FAGI >$350,000Income: 2%-6.5% state + 2.25%-3.2% local (varies by county)
Massachusetts
CG: 5% (LTCG), 8.5% (STCG) + 4% surtax >$1,083,150Income: 5% + 4% surtax >$1,083,150
Michigan
CG: 4.25%Income: 4.25%
Minnesota
CG: 5.35%-9.85% (+1% NIIT on net investment income > $1M)Income: 5.35%-9.85%
Mississippi
CG: 0% on first $10,000; 4.4% thereafterIncome: 0% on first $10,000; 4.4% thereafter
Missouri
CG: 0%Income: 2%-4.7%
Montana
CG: Long-term: 3.0%-4.1%; Short-term: 4.7%-5.65%Income: 4.7%-5.65%
Nebraska
CG: 2.46%-4.55% (taxed as ordinary income)Income: 2.46%-4.55%
Nevada
CG: 0%Income: 0%
New Hampshire
CG: 0%Income: 0%
New Jersey
CG: 1.4%-10.75% (as ordinary income)Income: 1.4%-10.75%
New Mexico
CG: 1.5% - 5.9%Income: 1.5% - 5.9%
New York
CG: 4-10.9% (state) + 3.078-3.876% (NYC)Income: 4-10.9% (state) + 3.078-3.876% (NYC)
North Carolina
CG: 3.99% (taxed as ordinary income)Income: 3.99%
North Dakota
CG: Short-term: 0%-2.5%; Long-term: effective 0%-1.5% after 40% exclusionIncome: 0%-2.5%
Ohio
CG: 2.75% (flat on income > $26,050)Income: 2.75% (flat on income > $26,050)
Oklahoma
CG: 0%-4.5%Income: 0%-4.5%
Oregon
CG: 4.75%-9.9%Income: 4.75%-9.9%
Pennsylvania
CG: 3.07% (flat rate)Income: 3.07% (flat rate)
Rhode Island
CG: 3.75%-5.99%Income: 3.75%-5.99%
South Carolina
CG: 1.99%-5.21% (44% deduction for net long-term capital gains)Income: 1.99%-5.21%
South Dakota
CG: 0%Income: 0%
Tennessee
CG: 0%Income: 0%
Texas
CG: 0%Income: 0%
Utah
CG: 4.5%Income: 4.5%
Vermont
CG: 3.35%-8.75%Income: 3.35%-8.75%
Virginia
CG: 2-5.75%Income: 2-5.75%
Washington
CG: 7% on long-term gains exceeding $278,000 (2025 threshold, inflation-adjusted)Income: 0% (no state income tax)
West Virginia
CG: 2.11% - 4.58% (taxed as ordinary income)Income: 2.11% - 4.58%
Wisconsin
CG: 3.5%-7.65% (30% subtraction for long-term)Income: 3.5%-7.65%
Wyoming
CG: 0%Income: 0%
Illinois Crypto Tax FAQ
Is cryptocurrency taxed in Illinois?
Illinois treats cryptocurrency as property, following federal IRS guidelines. All crypto capital gains and income are taxed as ordinary income at a flat state rate of 4.95%. No special exemptions or thresholds apply specifically to crypto.
What is the crypto capital gains tax rate in Illinois?
The state-level capital gains treatment in Illinois is currently listed as 4.95% (flat rate).
How do I report crypto taxes in Illinois?
• Report all crypto transactions via federal AGI on IL-1040 form.
Compare With Other Countries
Disclaimer: This information is AI-generated and for educational purposes only. Tax laws are complex and subject to change. Always consult with a qualified tax professional for advice specific to your situation.