The Illinois Department of Revenue (IDOR) released draft implementation rules for the Digital Assets Tax Act on Sept. 28 and opened a public comment period for industry participants. Under the proposal, business activities involving digital assets provided to customers in the state would be subject to tax. The draft sets the rate at 0.2% of the value of the digital asset. If adopted as planned, the rules would take effect on Jan. 1, 2027. The comment period will remain open through Oct. 30. The update was reported by CoinPost and cited by Techub News.
The Illinois Department of Revenue (IDOR) released draft implementation rules for the Digital Assets Tax Act on Sept. 28 and began soliciting feedback from industry participants.
Under the draft, business activities involving digital assets offered to customers in the state would be taxed at 0.2% of the value of the digital asset. The proposal is scheduled to take effect on Jan. 1, 2027.
The public comment period will run through Oct. 30, according to CoinPost, as cited by Techub News.
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