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Texas(TX) Lotto Prize Analysis for Sat Jul 22, 2017
Updated: Thursday, July 20th, 2017 01:14 AM The estimated jackpot for Texas(TX) Lotto on Sat Jul 22, 2017 is $5 million. The Texas(TX) Lotto prize analysis tells you how much you would get paid after tax withholdings. As legally required by the state of Texas, taxes are withheld on lottery winnings of $600.00 or more. For prizes over $5,000.00, US citizens and resident aliens with a social security number are subject to a 25% deduction to their prizes, which represents federal taxes. Luckily, lottery prizes are exempt from Texas state and local personal income taxes. For more information on taxes for lottery winnings in the state of Texas, click here.
- Choose Payment Option: The Texas Lotto players have to choose either "Cash Value Option" or 25 annual payments while purchasing the Lotto Texas ticket. If no payment options selected, the purchase will be rejected.
- For the Cash Option in the amount of $3,480,000, the federal tax that must be withheld is $870,000. There is no state tax for lottery prizes in the state of Texas. After all the taxes are paid, the winner gets a net lump-sum payment of $2,610,000.
- Annuity: If the winner chooses annuity in the amount of $5,000,000, the winner gets paid in 25 annual installments amounting to $200,000.00 yearly. The federal tax amounts to $50,000.00 yearly. The winner will receive, after paying all the taxes, $150,000.00 yearly.
Find below chart for jackpot analysis details of Texas(TX) Lotto.
| Texas(TX) Lotto Prize Analysis for Sat Jul 22, 2017 |
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Sat Jul 22, 2017
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Jackpot: $5 Million
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Cash: $3,480,000
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| Cash Option - $3,480,000 |
| Gross Cash Payment | 25% Federal Withholding | No State Tax Withholding | Lump-Sum Net Payment | | $3,480,000.00 | -$870,000.00 | -$0.00 | $2,610,000.00 |
| Annuity - $5 Million in 25 Annual Payments |
| Annual Gross Payment |
25% Federal Withholding |
No State Tax Withholding |
Annual Net Payment |
| $200,000.00 | -$50,000.00 | -$0.00 | $150,000.00 | | Total Gross Payment | 25% Federal
Total Withholding | No State Tax Withholding | Total Net Payment | | $5,000,000.00 | -$1,250,000.00 | -$0.00 | $3,750,000.00 |
Past Prize Analysis for Lotto- Lotto Jackpot Analysis for Saturday, July 22nd
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- Lotto Jackpot Analysis for Wednesday, June 28th
- Lotto Jackpot Analysis for Saturday, June 24th
- Lotto Jackpot Analysis for Wednesday, June 21st
More Prize Analysis for Texas(TX) Lotto
| Texas Lotto |
SUN MON TUE WED THU FRI SAT |
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Next Draw: Sat Jul 22, 2017
$5.00 Million
Change: -$2.00 Million
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TXLOTTERYX.COM is not associated with the official Texas State Lottery. The information contained in this website is provided for informational purposes only. Every effort has been made to ensure that the winning numbers and other information posted on this website are accurate. No valid claim may be based on the winning numbers or other information contained on this website. TXLOTTERYX.COM makes no warranties, guarantees or representations, of any kind, express or implied, as to the content, accuracy, completeness, reliability or timeliness of the information contained in this website or in the sites of any links provided herein. The information should always be verified by contacting the Official Lottery before it is used in any way. In the event of a discrepancy between the numbers posted on this website and the official winning numbers, the official winning numbers shall control.
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