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.
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The prize has not yet been claimed. The winner has 180 days from the draw date to claim the jackpot.
“We look forward to meeting and congratulating the fourth Lotto Texas jackpot winner of 2023,” said Gary Grief, executive director of the Texas Lottery. “If you have the winning ticket, we encourage you to sign the ticket, put it in a safe place, seek financial and legal advice, and call the Texas Lottery to schedule an appointment to claim the prize.”
The Texas Lottery said, "in addition to the jackpot-winning prize, 49,789 Lotto Texas tickets, including those with the Extra! add-on feature won lower-tier prizes ranging from $2 to $11,040 for the same drawing."
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The jackpot for the next drawing on Saturday has been reset and is estimated to be worth an annuitized $5 million.
