JOPLIN, MO.--- The sale of a winning Powerball ticket in Northwest Missouri could mean nearly $10 million in unexpected tax revenue for the state. This comes after $28 million in lottery tickets were sold in Missouri leading up to this record breaking Powerball Jackpot. The Dearborn winners were deducted 4% for state income taxes, which will also help boost our economy. All this money will also have a big impact on Missouri schools.
"When you spend a dollar on the lottery in Missouri about 25 cents or 28 cents of every dollar goes to fund public education so the biggest winner there is directly from sales and when we sold all of those tickets we generated a lot of money for education," states Pat Cedeno, WATCO Companies.
The State of Missouri will collect more taxes because the jackpot winners opted to take their winnings in one lump sum.