Lottery win could give small boost to Missouri
Fri, 30 Nov 2012 12:00:00 GMT —
JEFFERSON CITY, Mo. (AP) -- The sale of a winning Powerball ticket in northwest Missouri could mean about $10 million in unexpected income tax revenue for the state.
A convenience store in the town of Dearborn sold one of two winning tickets in Wednesday night's drawing, which had a jackpot of $587.5 million. The other ticket was sold in Arizona.
Missouri officials said Thursday the estimated $10 million tax payment assumes the Missouri winner opts for a lump-sum payment. They also say it doesn't matter if the winner lives in Missouri or was just passing through.
State budget director Linda Luebbering says the windfall would have a "good, positive effect" for the state, but would also be marginal in the context of the roughly $24 billion state budget.