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New York (NY) Lottery General Information
Since 1967, the New York Lottery has earned $29 billion to support education statewide, including $2.203 billion in fiscal
year 2005-2006. The amount of funds disbursed by the education department, under the state budget process, is based upon
the estimated Lottery earnings at the time of budget passage. In the event Lottery earnings exceed budget estimates, those
additional funds become part of the next year's Lottery aid distribution.
Federal, state and local income taxes are withheld from prizes over $5,000 or from prizes over $600 when the winner does
not present a social security number. Withholding varies according to the winner's place of residence. In some cases, Public
Assistance/Child Support offsets may be applicable.
Officials at each New York State eligible public and private high school can exercise their discretion in choosing the selection
process for scholarship candidates, based on criteria provided by the New York Lottery. Since there are varying populations,
class sizes and administrations across the State, these local officials are in the best position to decide what two students
should be recommended to the statewide selection committee in Albany.