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

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illinois lottery taxes The prizewinners shall be notified by the Illinois Lottery or its designee These prizes are subject to applicable taxes and withholdings and the Illinois  Illinois tax revenue from gambling grows to $ billion in fiscal year 2023 lottery, casinos, video gaming, sports betting and horse racing  The lottery annuity calculator helps you estimate the yearly annuity payouts and any applied taxes for a given lottery jackpot

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