Won 2,000.00 bucks in Illinois lottery.How much tax will be withheld ,state and federal?

Question

Won 2,000.00 bucks in Illinois lottery.How much tax will be withheld ,state and federal?

Answer 1

you owe Illinois $215

ty GW bush

Answer 2

from the illinois lottery website..

As they say, "It's the law". Twenty-five percent in Federal tax is withheld from prize amounts over $5,000, and three percent Illinois State tax is withheld from prize amounts of $1,000 or more. Actual tax liability may be more or less, depending on your individual filing status.

Answer 3

I woundnt worry about 2,000.  Usually the major tax is for winnings over 5,000.  But i would set aside about 4-5% just in case.