Oklahoma Lottery Collects Millions in Taxes and Debts
Collects $5M in State Taxes and More Than $96,000 in Debts Owed
OKLAHOMA CITY (April 24, 2008) – The Oklahoma Lottery has contributed more than $187 million to Oklahoma Education. It has also collected millions in state and federal taxes and thousands in debts owed to the state.
Since its launch in 2005 through mid-April 2008, the Oklahoma Lottery has withheld more than $5 million in state taxes and almost $32 million in federal taxes on prizes.
In cooperation with the Oklahoma Department of Human Services and the Oklahoma Tax Commission, the Oklahoma Lottery checks on every winner over $601 to determine if they owe child support or tax debt. If the winner is found to have a debt, the amount owed and the taxes on the prize are deducted from the prize value and the remainder of the cash, if any, is awarded. More than $86,000 has been collected in child support and since July 2007 more than $10,000 in tax debts.
In addition, the Lottery has paid more than $35 million in compensation to lottery retailers.
Net proceeds of all Lottery games are used to support improvements and enhancements for Oklahoma education. More than $187 million has been contributed to education since November 2005.
Proceeds are used statewide to supplement existing funds for a variety of important education purposes, including: teacher compensation and benefits, early childhood development programs, college scholarships, classroom technology and construction of educational facilities.
For more information about the Oklahoma Lottery, please visit www.lottery.ok.gov.