Many wander as to where does the lottery money goes after the winners get their share and other expenses:
Here are few websites to check out:
Source: https://legalclarity.org/who-funds-the-lottery-and-where-does-the-money-go/
After prizes and expenses are paid, the net proceeds are used for public benefits as required by law. Many jurisdictions choose to use this money for public education, such as K-12 schools or college scholarships. Other common beneficiaries include:
- Environmental protection and conservation
- Veteran and senior services
- General state funds and infrastructure projects
Because each state or territory has its own laws and regulations, the specific programs that receive money and the amount they get are determined by each local jurisdiction
Source: https://www.lotterygeeks.com/lottery-money-state-allocations/
Lottery Money State Allocations
Source: https://www.businessinsider.com/personal-finance/investing/how-does-the-lottery-work Sep 25, 2024
All That Lottery Money — Where Does It Go?
A state-by-state breakdown of all the proceeds and percentages
- Cash lotteries in the U.S. are primarily administered by state governments to raise revenue.
- Lottery winners can claim their winnings in one lump sum payment or annual payments over time.
- Lottery winnings are treated as regular income and subject to state and federal income taxes.
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