Missouri Lottery brings in nearly $50 million for education

in Lottery

JEFFERSON CITY, Mo. — Profits from Missouri Lottery ticket sales in July were sent to the fund for public education, bringing the total for FY19, which began July 1, to more than $49.7 million.

The August transfer was for $25,142,555.

Prior to each fiscal year, the Missouri Lottery averages the most recent five years’ profits for a “benchmark” and increases that amount by 1 percent to arrive at a goal for the next fiscal year.

In addition to providing funds for public education, the Lottery also benefits the state by collecting state taxes on prizes of more than $600. During Fiscal Year ’18, the Lottery collected $4 million in state tax withholdings, along with another $955,000 in debt offsets for back taxes, child support, public defender fees and other state agency debts.

https://www.ozarkradionews.com/local-news/missouri-lottery-brings-in-nearly-50-million-for-education