TLDR: #Illinois 0.2% Tax
-Rate: 0.2%: on broker/business activity for IL customers. NOT on owning crypto. NOT on gains.
-Who collects it: exchanges, custodians, wallet/transfer providers ("brokers"). Out-of-state brokers pulled in at $100K IL receipts.
-Penalty: Class 3 felony for unregistered/noncompliant brokers (+ corpofficers/agents) — 2–5 yrs, up to $25K.
-Revenue: ~$60M/yr from crypto. Budget is $56B. → ~0.1% of the budget.
-First in the nation. No other state taxes digital assets this way.
-Rate: 0.2%: on broker/business activity for IL customers. NOT on owning crypto. NOT on gains.
-Who collects it: exchanges, custodians, wallet/transfer providers ("brokers"). Out-of-state brokers pulled in at $100K IL receipts.
-Penalty: Class 3 felony for unregistered/noncompliant brokers (+ corpofficers/agents) — 2–5 yrs, up to $25K.
-Revenue: ~$60M/yr from crypto. Budget is $56B. → ~0.1% of the budget.
-First in the nation. No other state taxes digital assets this way.
1
