Illinois, federal tax rate combine on lottery jackpot at 47 percent

Illinois, federal tax rate combine on lottery jackpot at 47 percent illinois lottery taxes
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illinois 3 digit lottery Mega Millions jackpot won in Illinois two years ago Meanwhile Every state is required to withhold 25% in a federal lottery tax

illinois lottery illinois Lottery sales are already taxed yet they tax your winnings Same way some states make you pay annual property tax for property you were already The prizewinners shall be notified by the Illinois Lottery or its designee These prizes are subject to applicable taxes and withholdings and the Illinois