Crypto tax in Illinois FY2027 budget is one step away from becoming law
Summary
Illinois lawmakers passed a $56 billion state budget that includes a new 0.2% tax on crypto transactions, collected by the digital asset broker facilitating the sale. The measure also requires brokers operating in Illinois to register, and noncompliance could bring felony charges, prison time, and fines. The budget still needs Gov. JB Pritzker’s signature, though he is expected to approve it. Lawmakers estimate the tax could raise about $60 million. Crypto industry groups strongly opposed the proposal, arguing it was added with little notice, lacked stakeholder input, and would be economically harmful.
