11/20/2023 0 Comments Mgm online casino winnings claim back![]() ![]() 31, 2019, taxes on gambling income in Illinois are owed regardless of what state you live in. Yes, gambling winnings fall under personal income taxed at the flat Illinois rate of 4.95%. Are Gambling Winnings Taxable In Illinois? You should consult a tax professional to avoid any mistakes in calculating your state and federal income tax. Federal tax rates range from 10% to 37%, and gambling winnings can bump a person into a higher tax bracket. These winnings must also be reported as income on your federal tax return, where your rate depends on your income level and whether you’re filing as an individual or jointly with a spouse. That’s the percentage you’d owe in state income tax for all gambling winnings, which are considered part of personal income. Illinois is one of nine states with a flat tax on all income – in this case, 4.95%. ![]()
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