Time is running out for Michigan Lottery players to purchase a ticket for the first-ever $40,000 Tax Free Raffle!

The number of winners will be based on the volume of tickets sold, with one prize of $40,000; 50 prizes of $100; 1,850 of $50; and 3,100 prizes of $15 for every 30,000 tickets. With over 423,000 tickets already sold, players are already guaranteed of a drawing with 14 prizes of $40,000; 750 prizes of $100; 27,750 prizes of $50; and 46,500 prizes of $15.

Sales will end the week of April 8, when a multiple of 30,000 is reached. The drawing will be conducted on Tax Day, April 15.

Since the Lottery will foot the bill for the taxes on the top prizes, the lucky winners will walk away with checks for the full $40,000! The other prize amounts to be awarded in the drawing are not subject to taxes.

Tickets for the Tax Free Raffle are $10 each and can be purchased at any of the over 10,000 Michigan Lottery retailers across the state.