$40,000 Tax Free Prizes in Michigan Raffle
Feb. 12, 2014 – Michigan Lottery players have a chance to forget all about taxes on April 15, not because it’s the last day to file, but because they could win a $40,000, tax free lottery prize.
Through their $40,000 Tax Free Raffle, the Michigan Lottery will give away several $40,000 top prizes, though how many depends on the number of Raffle tickets sold.
According to the $40,000 Tax Free Raffle rules, the Michigan Lottery will add another $40,000 top prize for every 30,000 tickets sold.
Along with the top prizes, players also have a chance to win either $15, $50 and $100 cash prizes. For every 10,000 tickets sold during the Raffle sales period, the Lottery will add more than 1,600 of these smaller cash prizes.
Since sales opened Monday, Michigan Lottery players have already purchased nearly 9,000 tickets, meaning more runner-up prizes are about to be added.
Right now there are 1,033 $15 prizes, 616 of the $50 prizes, and 17 prizes worth $100, for a grand total of almost $50,000 in runner-up cash prizes.
Once the first 10,0000 tickets have been sold, there will be nearly $100,000 in second, third and fourth prizes, and by the time another $40,000 tax free top prize is added, there will be more than 6,600 smaller prizes totaling nearly $200,000.
Tickets for the $40,000 Tax Free Raffle cost $10, and players can find them at any of the Lottery’s retailers. Players can not choose their own numbers; Raffle tickets are sold in numerical order.
Sales will end April 14 and the big winners will be drawn April 15, the final day of tax season.