What Is the Tax Rate for Lottery Winnings? - Money

does illinois tax lottery winnings
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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%

That means winners in California and New York would take home different amounts: California doesn't tax lottery winnings, while New York levies Got a question about Illinois Lottery? Wondering about lottery rules? Do you have to pay taxes on winnings? Find your answer on our FAQs

double diamond deluxe slot machine Lottery winnings are subject to federal and sometimes state taxes If you win big, plan for the taxes ahead of time Updated May 24, 2024  How much tax does the IRS take from lottery winnings? The IRS automatically withholds 30% of net lottery winnings in the US The rate at which