I don't know what it feels like to win this much money. I imagine it feels, you know, pretty stinkin' good.
A Powerball player in California won the massive $1.08 billion jackpot, the lottery game's third-largest prize, Wednesday night.
The winning numbers were 7, 10, 11, 13, 24, and the red Powerball 24.
Hey! I was going to pick those numbers myself! I knew those would be the ones!
Well maybe I'll play them next time. In any event, this lucky guy โ or gal โ will be allowed to take the $1 billion sum as a gradual payout or else take a lump sum of $550 million. Pretty sure you're going to keep the lights on either choice you make.
(Although this is California we're talking about...)
The winner, meanwhile, will be subject to anywhere from 24% to 37% in federal income tax withholding, depending on which choice he makes.
Notably, California doesn't tax lottery winnings, though the state may still be able to get its hands on that money via income taxes or other avenues.