Why are lottery winnings taxed so heavily? Shouldn't a win be a win?

website does illinois tax lottery winnings The state of Illinois considers all gambling winnings to be personal income Again, how much you will owe depends on how much income you collected from all does delaware tax lottery winnings Besides the time-value-of-money discount rate, a lump-sum payout also results in federal tax of 37% on every dollar over $539,900

does illinois tax lottery winnings If you're a California resident and purchase your ticket there, you pay the 37% federal tax rate But you're in luck because California doesn't  Eight states do not tax lottery winnings — but the tax rate on lump-sum or annuity payments varies in the others In other states, the tax rate on lottery  “The rate is in terms of how much lottery winnings are

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