Crypto tax in Illinois FY2027 budget is one step away from becoming law
60-second summary
The crypto tax in Illinois FY2027 budget is one step away from becoming law, with lawmakers passing a budget plan that includes the 0.2% tax on crypto transactions. This tax burden will be placed on registered brokers, who will be responsible for collecting and reporting the taxes.
The law, part of a budget plan passed by Illinois lawmakers, would put the burden of collecting a 0.2% tax on crypto transactions on a registered broker.