LITTLE ROCK, Ark. (KTHV) - Lottery officials are still waiting for the recent million-dollar winner to come forward. That person holds the prize Powerball ticket that was purchased at Kroger in West Little Rock last week.
According to Arkansas Business, that was the thirteenth million-dollar, or more, ticket to be sold in the state since the lottery began back in 2009.
In our weekly Arkansas Business segment, THV's Liz Massey asked publisher Jeff Hankins the details on winning a lottery like this. What can the winner(s) expect after they cash in? How much can they keep after taxes? How well have past winners handled their money?
Hankins' says that the IRS and the state of Arkansas will of course want their "taste," but it all depends on how the winner accepts their money. He says that winners have an option to be paid each year or given one lump sum.
Hankins also says that one winner here in Arkansas won a million dollar prize, but left with just $680,000 after taxes.
For a full report, click the THVideo to see the interview. You can also read the entire piece at ArkansasBusiness.com.