There's about an hour left to get a ticket for Wednesday's Lotto Texas jackpot, the largest in more than 12 years. Here's what you'd take home after taxes
jackpot drawing, sending the largest advertised jackpot in the state lottery in more than 12 years even higher to an estimated $55.5 million for Wednesday night.
Wednesday's drawing offers an estimated cash value of $34.26 million. If someone wins Wednesday night and takes the cash value option, they'll pay approximately $8,222,400 in federal taxes and take home roughly $26,037,600. Texas lottery winners don't pay a state tax on lottery winnings. “The largest Lotto Texas jackpot since May of 2010 continues to climb, giving Texas Lottery players another exclusive chance to win this big jackpot prize,” said Gary Grief, executive director of the Texas Lottery. “Sales for the game have been strong over the past several weeks, which will ultimately benefit public education in the state of Texas.”
If there is no jackpot winner for Wednesday night’s Lotto Texas drawing, the jackpot prize for Saturday, March 25 is expected to reach $57.75 million. Wednesday's annuitized jackpot is the third-largest in North America. Lotto Texas is only eclipsed by multi-state jackpots
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