Illinois Opens Public Comment on Draft Rules for Digital Asset Tax

According to BlockchainReporter, the Illinois Department of Revenue published draft proposed rules for the state's Digital Asset Tax Act on September 28. The publication opens a public comment period running through 5:00 p.m. on October 30, ahead of a 0.2% levy taking effect on January 1, 2027. Reported by BlockchainReporter, these draft rules represent the initial formal step toward enforcing the nation's first state-level tax on crypto transactions.

As covered by BlockchainReporter, the proposed rules apply to digital asset brokers providing activities such as exchanging, transferring, and storing assets for Illinois customers. Brokers are considered operating in the state if they maintain an office, facility, or agent there, or earn at least $100,000 in gross receipts from in-state customers. BlockchainReporter noted that the 0.2% tax applies to the value of the digital asset tied to activity received by an in-state customer, with affected brokers required to collect the tax, remit it to the department, and register for a certificate.

BlockchainReporter also stated that IDOR Director David Harris framed the comment window as a way to add clarity. The measure has previously drawn legal challenges, including a July lawsuit from the Digital Chamber.