20 ILCS 1605 Illinois Lottery Law

illinois lottery tax
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illinois lottery tax Illinois, shall be deemed to be a prize awarded under this Act for the purpose of taxation under the Illinois Income Tax Act The Department shall  Like all other taxable income, the IRS requires you to report prizes and winnings on your tax return, too That means you might have to pay  “Raffle” Defined: In general, a raffle is considered a form of lottery As such, a raffle generally refers to a method for the distribution of prizes among

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