Estates worth more than $4 million in 2023 are subject to Illinois estate tax. This exemption amount is not indexed to inflation, unlike the federal estate tax exemption of $12,920,000 in 2023, which is indexed.
The top tax rate is sixteen percent (16%). I
llinois, unlike the federal government, does not permit "portability," which allows the surviving spouse to use their deceased spouse's unused exemption amount at their death.
Surviving spouses or civil union partners are exempt from this tax.
If you are the executor for a person who died in Illinois with an estate that's taxable, you will have to file an Illinois state estate tax return. Click here for a link to the Illinois Attorney General's website, which has links to the required forms.