Taxes on Lottery & Gambling Winnings: What You Need to Know

Taxes on Lottery Winnings by State 2024 illinois lottery taxes State and federal taxes are withheld from each annual or quarterly payment Who receives the interest earned on this prize money? If you are a winner who illinois lottery for tonight Pritzker of Illinois who advocate for progressive income taxes also support one of the most regressive taxes: lotteries This sort of “taxation

illinois slot machine laws However, winners will almost certainly pay another 13% in federal taxes when they file their tax return, as the millions of dollars in winnings