Mega Millions jackpot: How much will Illinois winner owe in taxes?

illinois lottery tax calculator
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If you receive a large winnings payout as a lump sum, you leave your money vulnerable to higher tax rates by the IRS Are foreign lottery

Lottery winnings are taxed as income at the state and local level and vary by location For instance, New York has one of the highest tax rates

illinois lottery pick 3 history Illinois LLC · Indiana LLC · Iowa LLC · Kansas LLC · Kentucky LLC Today tax rates are still pretty low at a federal level You'll pay

illinois winning lottery post There isn't a 66% tax on lottery winnings It's 37% plus the state tax rate But you lose half the jackpot if you take the lump sum Reply