Lottery Tax Planning for a Billion Dollar Drawing

does illinois tax lottery winnings
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does illinois tax lottery winnings Income from lottery winnings and online games are included under the head 'Other source of Income' and is taxable at the special rate of 30%  Unlike some states that act like they hit the lottery themselves after you win, Illinois has a relatively fair tax rate for lottery winnings: a cool % That  Not only do you have to pay taxes to the federal government on your lottery winnings, you may also need to pay state income taxes as well Not

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