Why Stress Over Illinois Tax Filings When You Can File Accurately in Minutes?
X.TAX provides expert Business tax solutions for filing all your IL business tax forms, 100% accuracy, Audit Protect and Assist Filing.
Take a Glance at the IL Business Tax
Know More About Illinois Tax History
Filing Illinois business taxes isn’t just about compliance. Failing to meet deadlines or submitting incorrect forms can cost your business thousands. Late-filing penalties can be as high as $250 or 2% of the tax due, whichever is less. If you miss payments by more than 30 days, the penalty increases to 10% of the unpaid amount. Interest also accrues on any unpaid taxes starting from the original due date, making it even more expensive to delay.
Illinois Business Tax Forms
Know IL Business Tax Forms, which require your business to stay compliant with Illinois regulations and avoid penalties.
Corporations
- IL-1120: Corporation Income and Replacement Tax Return
- IL-1120-ST: Small Business Corporation Replacement Tax Return
Partnerships
- IL-1065: Partnership Income and Replacement Tax Return
Limited Liability Companies (LLCs)
- LLCs taxed as corporations file IL-1120 or IL-1120-ST depending on their election status
Estates and Trusts
- IL-1041: Fiduciary Income and Replacement Tax Return
Additional New Jersey Forms
- Form IL1040: Individual Income Tax Return
- Schedule NR: Nonresident and Part-Year Resident Computation of Tax
- Schedule CR: Credit for Tax Paid to Other States
- Schedule ICR: Credits
- In 2023, Illinois businesses paid millions in penalties and interest due to late filings and errors. Avoid these costs by filing accurately and on time with X.TAX.
How to file IL Business Tax online with X.TAX
File It in Just Four Steps
Set Up Your Account
Fast and secure registration.
Upload Your Information
Add income, expenses, and supporting documents.
Review for Accuracy
Use AItomatic tools to verify everything is correct.
Submit to the State
File directly with the Illinois Department of Revenue.
Illinois Business Tax Filing Deadlines
X.TAX Helps You File on Time with Regular Alerts and Notifications
| Business Type | Forms | Due |
|---|---|---|
| Corporate Taxes | IL-1120 | April 15, 2025 |
| IL-1120-ST | March 15, 2025 | |
| Partnership Taxes | IL-1065 | April 15, 2025 |
| Estates and Trusts | IL-1041 | April 15, 2025 |
Failing to meet these deadlines could result in penalties of up to 10% of the unpaid tax amount, on top of interest charges that begin accruing immediately.
IL Business Tax Exemptions
Find Tax Breaks Your Illinois Business Qualifies
Corporate Income Tax Exemptions
- 501(c) organizations such as charities and educational institutions are exempt.
Sales Tax Exemptions
- Not-for-profit organizations may qualify for exemptions on purchases.
Property Tax Exemptions
- Properties owned by nonprofits used for charitable purposes may be exempt.
Investment Credits
- Businesses making capital investments in Illinois may qualify for tax credits.
Pass-Through Entity (PTE) Tax
- Partnerships and S-Corporations can elect to pay a PTE tax to offset individual income taxes.
With X.TAX Simplify Your IL Business Tax Filing Online
Leverage the Advanced Tools for Illinois Business Taxes Made for You
Audit Protect
- Receive Data Signals to detect and resolve potential audit triggers.
- Get full support for managing IRS or state audits.
RiskScore
- Monitor your IRS account status in real time.
- Receive alerts about unresolved balances or missing filings before they become problems.
AItomatic Filings
- Certified CPAs or Enrolled Agents handle your filing for $250.
- Audit protection is included for the entire tax year.
QuickBooks Integration
- Import data directly from QuickBooks for faster, more reliable filing.
- Ensure your financial records are ready for tax season without extra work.
Errors in filings can cost businesses thousands in penalties and interest. Use X.TAX to avoid mistakes and protect your bottom line.
What Illinois Businesses Are Saying About X.TAX
Real Stories from Happy Users
Illinois Businesses TAX FAQs
Find the Answers You Need Related to Your IL Business Tax Filings.
What is Illinois business e-filing?
Illinois business e-filing is an online method to submit your taxes quickly and securely, reducing errors and delays.
What is the best e-filing software for Illinois businesses?
Look for software that provides accurate form matching, error checking, and compliance with Illinois Department of Revenue standards.
How do I know which tax forms I need?
The forms depend on your business type. Corporations use IL-1120 or IL-1120-ST, while partnerships file IL-1065.
Can I file an amended return if I made a mistake?
Yes, forms such as IL-1040X and IL-1120-X are used for corrections. Penalties and interest may apply to changes.
Are nonprofits exempt from all taxes?
Nonprofits often qualify for exemptions but must meet specific state requirements to benefit fully.
What happens if I file late?
Late filings may result in penalties of up to $250 or 2% of unpaid taxes, plus interest that accrues daily.
Is e-filing secure?
Yes, most e-filing software employs encryption to protect sensitive financial data.
