California Lottery Heats Up With $82 Million SuperLotto Plus Jackpot; Highest Single-State Jackpot In US.News and Entertainment Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--Jan. 27, 2003 California residents are lining up today at favorite Lottery lottery, scheme for distributing prizes by lot or other method of chance selection to persons who have paid for the opportunity to win. The term is not applicable when lots are drawn without payment by the interested parties to determine some matter, e.g. retail locations for a chance at winning $82 million for the SuperLotto Plus(R) drawing of Wednesday, January 29, 2003. No one had the winning ticket for Saturday night's jackpot prize, creating a jackpot of $82 million. "It's great to kick-off the new year with a jackpot of $82 million!" said Lottery CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Joan Wilson. "We are excited for the lucky Californians who have a chance to win this prize. And most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , California public schools will receive a contribution of $53 million." The California Lottery currently has the largest single state lottery A game of chance operated by a state government. Generally a lottery offers a person the chance to win a prize in exchange for something of lesser value. Most lotteries offer a large cash prize, and the chance to win the cash prize is typically available for one dollar. jackpot in the country. A single jackpot winner of $82 million who chooses 26 annual payments, will receive the first payment of more than $2 million and the 26th payment being more than $4 million (before a 27% federal tax withholding Withholding Any tax that is taken directly out of an individual's wages or other income before he or she receives the funds. Notes: In other words, these funds are "withheld" from your wages. , there are no state taxes). The estimated cash value would equal roughly half of the jackpot -- $41 million or the amount the lottery would invest to payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. the jackpot prize over 26 years. In the event of the death of a winner, the full prize is paid to the estate of the winner. A retailer who sells the winning ticket would receive 1/2 of 1% of the jackpot as a bonus for selling the winning ticket. A single winning ticket would yield $410,000 for the retailer who sells a single winning ticket. With at least 34% of all Lottery sales going to education, the sales from this jackpot will generate an estimated $53.5 million for public education. California's schools have received over $14 billion from 34% of Lottery sales since 1985. Note: Additional information about the California Lottery may be found on our web site at http://www.calottery.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion