Tax on Lottery Winnings by State 2023

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If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding

Lottery and Cannabis Read More April 16, 2024 Last week, the Illinois house of representatives passed a progressive wagering tax rate This will see the state's most prolific sports betting

slot machine ui The federal tax on the lottery is based on the federal marginal rates, which is 37 percent in the highest bracket In practice, there is a 24 percent federal Qualifying Illinois families with kids 12 and younger in Illinois could get a child tax credit, thanks to the state's new budget passed this