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Texas(TX) Lotto Prize Analysis for Wed Feb 08, 2023
Updated: Tuesday, February 7th, 2023 12:15 AM The estimated jackpot for Texas(TX) Lotto on Wed Feb 08, 2023 is $39.5 million. It was a 1,500,000 increase from previous jackpot. 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 $23,900,000, the federal tax that must be withheld is $5,975,000. 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 $17,925,000.
- Annuity: If the winner chooses annuity in the amount of $39,500,000, the winner gets paid in 25 annual installments amounting to $1,580,000.00 yearly. The federal tax amounts to $395,000.00 yearly. The winner will receive, after paying all the taxes, $1,185,000.00 yearly.
Find below chart for jackpot analysis details of Texas(TX) Lotto.
| Texas(TX) Lotto Prize Analysis for Wed Feb 08, 2023 |
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Wed Feb 08, 2023
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Jackpot: $39.5 Million
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Cash: $23,900,000
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| Cash Option - $23,900,000 |
| Gross Cash Payment | 25% Federal Withholding | No State Tax Withholding | Lump-Sum Net Payment | | $23,900,000.00 | -$5,975,000.00 | -$0.00 | $17,925,000.00 |
| Annuity - $39.5 Million in 25 Annual Payments |
| Annual Gross Payment |
25% Federal Withholding |
No State Tax Withholding |
Annual Net Payment |
| $1,580,000.00 | -$395,000.00 | -$0.00 | $1,185,000.00 | | Total Gross Payment | 25% Federal
Total Withholding | No State Tax Withholding | Total Net Payment | | $39,500,000.00 | -$9,875,000.00 | -$0.00 | $29,625,000.00 |
Past Prize Analysis for Lotto- Lotto Jackpot Analysis for Wednesday, February 8th
- Lotto Jackpot Analysis for Monday, February 6th
- Lotto Jackpot Analysis for Saturday, February 4th
- Lotto Jackpot Analysis for Wednesday, February 1st
- Lotto Jackpot Analysis for Monday, January 30th
- Lotto Jackpot Analysis for Saturday, January 28th
- Lotto Jackpot Analysis for Wednesday, January 25th
- Lotto Jackpot Analysis for Monday, January 23rd
- Lotto Jackpot Analysis for Saturday, January 21st
- Lotto Jackpot Analysis for Wednesday, January 18th
More Prize Analysis for Texas(TX) Lotto
| Texas Lotto |
SUN MON TUE WED THU FRI SAT |
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Next Draw: Wed Feb 8, 2023
39,500,000
Change: +1,500,000
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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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