|illinois unemployment tax rate 2021||1.21||1||4196||21|
|illinois unemployment tax rate 2022||1.97||0.7||1299||37|
|illinois unemployment tax rate 2020||1.73||0.3||2561||2|
|illinois state unemployment tax rate 2021||1.78||0.1||8528||80|
|illinois employer unemployment tax rate 2021||1.35||0.8||2343||75|
|illinois state unemployment tax rate 2022||1.03||0.2||9464||96|
The Federal Unemployment Tax Act (FUTA), with state unemployment systems, provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both a Federal and a state unemployment tax.Is unemployment income taxable?
Although it doesn't seem quite fair, the IRS does consider unemployment income as taxable income, as do most states. On the bright side, if your sole source of income was from unemployment, and that income was less than the taxable threshhold after exemptions and deductions, you might not owe any taxes.