A $17 million lotto lottery ticket is sold out in Dallas recently
The Texas Lottery says the winning ticket in Wednesday night's $17 million drawing was sold in Dallas.
The annuitized prize was worth $17 million over 30 years, but the player selected the cash value option which dropped the prize to $9,784,117.86 before taxes.
The winner will pay roughly 37% in federal taxes, or $3,620,123.60. Texas doesn't tax lottery winnings, so the state wouldn't take a cut.
That would leave the winner with $6,163,994.25. The federal government taxes lottery winnings like income so the taxes due include 24% upfront to the federal government and probably another 13% since the top federal income tax rate is 37%.
The ticket was sold at a 7-Eleven store on the 76000 block of Campbell Road. The prize has not yet been claimed. The winner has 180 days from the draw date to claim the jackpot.
