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What is the tax rate on lottery winnings in Missouri?

Answer:

Missouri has a lottery tax rate of 38.1%. Have a great evening! AnswerParty!

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Missouri Lottery Gambling Games

A lottery is a form of gambling which involves the drawing of lots for a prize. Lottery is outlawed by some governments, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. In several countries, lotteries are legalized by the governments themselves]clarification needed[.

farming, forestry, and fishing: 0.7% manufacturing, extraction, transportation, and crafts: 20% managerial, professional, and technical]disambiguation needed[: 37% sales and office: 24% other services: 18% (2009)

Main data source: CIA World Fact Book

The Florida Lottery is a government-run organization in the state of Florida, USA. With numerous on-line and scratch-off games available, players have a wide variety of prize levels to choose from. Since it began, the Florida Lottery has continued to add variety to its portfolio of games. The Lottery has experimented with higher price points, enhanced traditional games, and introduced seasonal promotional games. In 2012, Florida was the third-ranked state in yearly lottery revenue with $4.45 billion; revenue passed $5 billion in fiscal year 2013. Florida passed the legislation to enact the lottery in 1986 by a two to one ratio. The new lottery was spearheaded by Governor Bob Martinez and the Florida legislature with the mission of maximizing revenues for the enhancement of public education in Florida. The lottery was founded on the basis that it would provide the people of Florida the opportunity to benefit from additional revenues while providing the highest quality games available. The lottery's first game, MILLIONAIRE was a $1 scratch-off that was immensely popular. Within 17 days, the scratch-off game had paid back the entire $15.5 million to the state's general fund. Florida currently offers eight terminal games: Powerball; Florida Lotto; Cash 3; Play 4; Fantasy 5; Mega Money; Lucky Lines; and Mega Millions, which became available in Florida on May 15, 2013.

With the goal of the Florida Lottery being to enhance public education in the state, the lottery has become not only an education partner but a distinguished business enterprise as well. in the 2011-2012 fiscal year, the Florida Lottery donated $1.31 billion to the Educational Enhancement Trust Fund, surpassing the $1 billion mark for the eleventh time in its history and expanding its all-time donation total to over $25 billion. Additionally, Florida donates funds to help construct new schools and other educational facilities. As of 2012, more than $3.9 billion in lottery-backed bonds have gone to school construction.

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