Crypto
Illinois Prepares to Tax Crypto Transactions Starting January 1, 2027
The state of Illinois is preparing to implement a 0.2% tax on certain cryptocurrency transactions starting January 1, 2027.
The tax will apply to stablecoins, DeFi transactions, and cross-chain activity, but non-fungible tokens (NFTs) are exempt.
DeFi transactions that involve protocol fees or other qualifying payments may also be subject to the tax.
The Illinois Department of Revenue is accepting public comments on the draft rules until October 30.