💰 Revenue forecasters need to account for the Mega Millions jackpot.
◉ Whoever won the $1.35 billion Mega Millions jackpot after buying a ticket in Lebanon is one of the luckiest people in Maine history. The state is lucky too.
◉ If the person bought that winning ticket just over a mile away in income tax-free New Hampshire, they would have been richer. Maine's taxes will take an additional $52 million off the jackpot if claimed as a lump sum or $96 million if the winner takes annuity payments over 30 years.
◉ The amount going to the state also depends on who won and when the ticket is redeemed, noted Christopher Nolan, the head of the Legislature's fiscal office. The Mega Millions effect will be considered when the state's Revenue Forecasting Committee next considers projections in May.
🎤 Get to know your new committees.
◉ Some of the first legislative committee meetings of 2023 come at 1 p.m. today, with many of the new panels getting orientations and briefings from state agencies. Find them.
◉ For example, the incoming budget committee will get briefings from the state treasurer and the attorney general's office before they take up Mills' $10.3 billion spending proposal. Listen here. |
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