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Old 03-07-2012, 01:04 PM   #3
Papa_Complex
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Join Date: Nov 2008
Location: Brampton, Canada
Moto: '09 ER-6n
Posts: 11,152
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I would be more annoyed by this, if it wasn't for......

Must I pay taxes on my Lottery winnings?
As they say, "It's the law". Twenty-five percent in Federal tax is withheld from prize amounts over $5,000, and five 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.


... so he'll be paying himself for a goodly number of years.
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