January 12, 2011 (CHICAGO) (WLS) — The income tax increase in Illinois is retroactive to January 1. But taxpayers won’t see a change in their paychecks until the end of the month.
The new state income tax increases taxes from 3 to 5 percent.
For those with an annual income of $35,000, the taxes go from $1,050 to $1,750. For those earning $75,000 a year, the taxes were $2,250 and will be $3,750. And for a $250,000 yearly income, the taxes went from $7,500 to $12,500.