Illinois Governor J.B. Pritzker approved a $56 billion budget that includes a new 0.2% tax on digital asset business activities, such as exchanging, transferring, or storing digital assets for Illinois residents. The tax applies to firms with at least $100,000 in gross receipts that are based in or serve Illinois residents. It was added last-minute and the legislature is out of session for the rest of the year, making short-term changes unlikely. The tax is expected to raise about $60 million. Industry groups like the Crypto Council for Innovation have pushed back, arguing it singles out crypto uniquely compared to stocks or bonds. Discussions of lawsuits are underway but none have been filed. The tax takes effect on January 1, 2027.

Key facts

• Illinois imposes 0.2% tax on digital asset exchange, transfer, or storage for residents.
• Tax applies to firms with $100K+ gross receipts, in-state or serving Illinois residents.
• Added last-minute to state budget; legislature out of session for 2026.
• Expected to raise $60 million; industry groups criticize as anti-crypto.
• Lawsuits possible but not filed; tax effective Jan 1, 2027.
• Critics say it targets crypto uniquely, unlike stocks or bonds.

KeyAudit data perspective