Mega Millions prize delivers millions to Michigan
Tuesday 26 de January 2021 / 08:15
2 minutos de lectura
(Michigan).- A billion-dollar lottery ticket sold at a grocery store in the Detroit suburbs will give Michigan an unexpected financial boost, a state official said over the weekend.
Only one winning ticket was sold ahead of the drawing for Friday’s $1.05 billion lottery prize. The winner will be given the choice to accept yearly payments or a lump sum of $776.6 million, said Jake Harris, a spokesman for the Michigan Lottery.
And that’s where things start looking up for the state: Michigan law requires the Lottery to withhold state and federal taxes from any prize of more than $5,000.
Michigan taxes lottery winnings at a 4.25 percent rate. That means the state is in line to receive about $33 million in taxes. And because that money is tax revenue, rather than proceeds from the sale of lottery tickets, it will fall into the state’s general fund, rather than an account dedicated to funding education.
The winner will fork over a much bigger share — 24 percent, or about $186 million — in federal taxes, Harris said. He or she might also have to pay local taxes, depending on where they live, though that responsibility falls to the winner.
The unexpected windfall will add an extra cushion to what was already a rosier-than-expected budget forecast. A report earlier this month from Michigan’s Senate Fiscal Agency found the state has billions of extra dollars to spend, bolstered by stimulus checks and federal aid passed as part of last year’s coronavirus relief packages.
Friday's jackpot was the third-largest in American history, following prizes awarded in 2016 and 2018. It would be the second-largest prize ever awarded to a single winner; three people shared the 2016 Powerball prize of $1.58 million, and one Mega Millions winner took home a $1.53 billion jackpot in 2018.
Categoría:Lottery
Tags: Sin tags
País: United States
Event
G2E - Las Vegas 2025
06 de October 2025
Korbi Carrison on 25 Years of G2E: "It’s crucial to stay ahead of trends"
(Las Vegas, SoloAzar Exclusive).- In this interview, Korbi Carrison, Event Vice President of G2E at RX USA, reflects on the success of G2E’s 25th anniversary edition in Las Vegas, sharing insights on the event’s evolution, key highlights, and what this landmark celebration means for the future of the gaming industry.
Tuesday 04 Nov 2025 / 12:00
CT Interactive on Innovation, Networking, and Market Growth at G2E 2025
(Las Vegas, SoloAzar Exclusive).- The global gaming industry marked G2E’s 25th anniversary with a major gathering in Las Vegas. CT Interactive stood out for its innovative product development and international growth strategy. Account Manager LATAM at CT Interactive, Roberto Muñoz, shared insights on G2E’s importance, emerging trends, and the company’s collaborative expansion efforts.
Thursday 30 Oct 2025 / 12:00
Atlaslive Explored the Future of Gaming in Latin America at Recent G2E 2025
(Las Vegas, SoloAzar Exclusive).- Bruno Almeida, Head of Sales LATAM at Atlaslive, attended G2E for the first time to explore how land-based and online gaming are converging. His experience highlighted key trends shaping the Latin American market, from immersive casino innovations to strategic networking and regulatory insights.
Monday 27 Oct 2025 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.