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WebJan 13, 2024 · On December 29, 2024, Public Act 168 (PA 168) was signed into law amending the Michigan Income Tax Act (MITA) to create a new individual income tax … WebFeb 21, 2024 · Gambling winnings are typically subject to a flat 24% tax. However, for the activities listed below, winnings over $5,000 will be subject to income tax withholding: Any lottery, sweepstakes, or betting pool. Any other bet if the proceeds are equal to or greater than 300 times the wager amount. WebApr 11, 2024 · The bill — introduced in February — was then signed into law by Gov. Beshear a day later on March 31. Kentucky, which became the 38th jurisdiction in the U.S. to legalize sports wagering in ... portfield community centre christchurch