Powerball win could give small boost to Missouri tax revenue
Photographer: KSHB
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 11/30/2012
-
By: Associated Press
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.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT
Latest Missouri News
-
New Joplin hospital takes shape
The Joplin tornado on May 22, 2011, hit one of the worst possible places. Six people were killed inside St. John's Medical Center, and now the building is completely gone.
-
Joplin donut shop weathers the storm
-
School in a mall is Joplin's new normal
-
Mo. woman loses mother in Moore tornado
-
Joplin knows the pain felt in Oklahoma
