Crypto tax in Illinois FY2027 budget is one step away from becoming law
Hex37's read
- Illinois FY2027 budget includes a 0.2% crypto transaction tax.
- Lawmakers passed the budget plan, moving the tax closer to law.
- Registered brokers will be responsible for collecting the tax.
What it means for traders
- This tax could increase trading costs for Illinois residents, potentially impacting trading volume.
- Brokers operating in Illinois will need to implement systems to comply with the new tax collection.
Affected markets
Practice this on Hex37
News like this moves markets. Practice trading the move with $10,000 in virtual balance and exchange-grade execution, no real money at risk.