Analyst says Illinois tax hike could see similar moves in other states
Analyst says Illinois tax hike could see similar moves in other states
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Lottery winnings are considered ordinary taxable income by the IRS Even if an installment winner sells the future income stream to another
Lottery winnings are considered ordinary taxable income for both federal and state tax purposes Winnings are taxed the same as wages or salaries are, and Illinois boasts the nation's seventh-highest average combined state and local sales taxes, according to the Tax Foundation The state's sales
slot agen138 login The graduated tax structure would hike taxes on Illinois sportsbooks from the current 15% on all operators to 20% for the lowest earners up to Lottery winnings are subject to federal income tax at a rate of 24%, and some states may also impose their own tax on lottery winnings, ranging from 0% to %
