The lucky player who won $1 billion Powerball jackpot was left devastated after learning that only a fraction of winnings can be taken home despite the historic win.
The winning ticket was sold at the Las Palmitas Mini Market in Southern California, with the organization taking to Twitter to announce: “California has a new Powerball BILLIONAIRE!”
“One lucky ticket sold at Las Palmitas Mini Market in Los Angeles was the only ticket across the country to match all 6 numbers in the July 19 #Powerball draw, winning the $1 Billion Powerball jackpot,” the California Lottery added.
According to the organization, seven other tickets matched five of the numbers. This means these lucky players will also receive a prize of $448,750 each.
The winning numbers were: 7, 10, 11, 13, 24, and red Powerball 24.
“The Golden State luck was in full force as California also sold SEVEN additional tickets that matched 5 numbers missing just the Powerball, winning $448,750 each, in Hayward, La Puente, Los Angeles, Northridge, San Francisco, Santa Clara, and South Lake Tahoe,” they announced.
It has been revealed that the $1.8 billion jackpot winner might not receive the entire winnings as it will be cut because of taxes.
Even though the golden ticket was bought in Los Angeles, the lucky player could be from a state outside of California and could face state lotto tax rates, which range from 2.9 percent in North Dakota to 8.82 percent in New York.
According to reports, the winner has the choice of taking cash installments spread across 30 annual payments or cashing in the lump sum.
If the winner decided to go for the full amount, they will take home $516.8 million and get automatically hit by a mandatory federal tax withholding of 24 percent, which means only $424.15 million will be left.
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Lottery office gets more than the winner, Wrong
If he is not a US citizen they don’t keep the money either.
Bla bla bla bla. And why do you say that automatically because they look Hispanic? lowlife
This isn’t a new thing this has always been the rules
i always thought taxes were taken from the total in state where ticket was bought and after that the rest was the winners
I think its disgusting what the state and federal governments do.
1.8 billion and the guy comes out with less than half a billion. Wrong, so wrong. Same thing with owning a house, you never own it after you pay it off because you’re still on the hook for taxes every year. Helps you understand why America fought the British over taxes !!
It’s rigged too many odds always California Florida New York should get money no matter how many numbers. For that amount of money
Seems to me that whatever amount you win, should be yours. Because you won it. It wasn’t earned income. The government should just keep their hands off of it. The government already taxes you for almost every penny you get. They are used to being greedy though. So what are you going to do?
oh well, still $424.15 million more than he had. give it to me if it’s so bad
I would be happy with whatever amount I ended up with!! $442 million is still a lot of money.
Seriously…oh darn. Only $442 million. Yes,it may be a lot of taxes taken out,but still. I don’t think anyone should win over $10 million. Whatever is over that,should be shared in equal amounts. Possibly $1 or $2 million a person. Can you imagine how much better the economy would be? How much better more people could live. That would be great!
Aw 400,000,000 is stil plenty of money! You know they tax lots of taxes from the time you buy your ticket. Most people would be happy if they won a few million.
You pay an immediate tax before they actually send you the check and then the next year when you have to file your annual income tax, you have to claim your winnings and pay the taxes again!!! A friend of mine won the $24,000,000.00 and walked away with $7,000,000.00, only to have to report it as income when they filed their taxes.
if you win the lottery in the uk or australia or europe you recieve every penny
He or she will have more than enough money to last a lifetime. Nobody NEEDS a billion dollars. Show some gratitude for your immense luck!
Lucky the machines work and pay off in comieforina ,go to mexico with your winnings and its worth more but don’t tell anyone you be mugged for the cash.