A Practice Note discussing real estate transfer taxes imposed by the State of Illinois on the transfer (including conveyance) of an interest in Illinois commercial and residential real estate. This Note addresses the common types of transfers subject to State of Illinois transfer taxes, including transfers of beneficial interests in real estate and in controlling interests in a real estate entity. This Note also addresses deductions from full actual consideration, exemptions, and the steps for reporting, paying, and declaring exemptions from State of Illinois transfer taxes.