TEXAS — Texans now have the opportunity to win an estimated $61.5 million after Monday night’s Lotto Texas Jackpot skyrockets to the highest it’s been since 2010.
If there’s a lucky winner Monday night, they could walk away with roughly $28,598,800 after taxes. The initial cash value is estimated at $37.63 million before federal taxes. Federal taxes would be approximately 24%, which is $9,031,200. Texas Lottery winners are not required to pay a state tax on winnings.
Those with a winning ticket should sign the back of their ticket and keep it in a safe, secure place before seeking legal counsel and calling to claim your prize, according to Texas Lottery officials.
If there is no jackpot winner for the Lotto Texas drawing, the jackpot prize for Wednesday will climb above $62 million.