(DLC Media) Human resources departments throughout the state of Illinois have now received the information they need to start deducting more from workers’ paychecks. The Illinois Department of Revenue has issued a release with specific details of implementing changes that accountants and employers need to enact the income tax hike that lawmakers approved last week. The individual income tax rate is now 4.95 percent, up from 3.75 percent. Corporations are now paying 7 percent, up from 5.25 percent. It is retroactive to July 1 of this year. The new money will go toward the first full state budget Illinois has had since 2015.
