But California, along with Delaware, is one of just two states that don't tax lottery winnings like regular personal income - marking another stroke of luck for the winner.

If the prize was taxed as income in California, the winner would be facing an additional state tax bill of more than $120 million. When they do come forward, they'll have to choose between the annuity option or the nearly $1 billion lump sum payment - which would likely result in a total tax bill of $369.1 million, based on the top federal tax rate of 37%.

They'll have up to a year from the date of the winning draw to claim the prize, according to the rules of the California Lottery. states where lottery winners have the option of remaining anonymous, so the jackpot winner will eventually have to come forward and claim their winnings publicly. While the business' owner received a $1 million bonus from Powerball for selling the winning ticket, the identity of the ticket's owner remains unknown.Ĭalifornia is not one of the U.S. (That's the option 'Shark Tank' star Kevin O'Leary says you should choose.) The pretax lump sum payment for Wednesday's winner would be $558.1 million.Ī single winning ticket for the record Powerball drawing was sold at a gas station and convenience store called Joe's Service Center in Altadena, California, a community located north of Los Angeles. Lottery winners choose between receiving their winnings in an annuity - with payments over 30 years - or the more popular option, a single lump sum payment in a smaller amount. The odds of winning it were roughly one in 292.2 million, according to Powerball. The prize had been growing for three months. lottery prizes ever, coming in as the sixth-largest ever. And, while it's not a bad haul for the investment in a $2 Powerball ticket, the latest jackpot doesn't quite crack the five-largest U.S. Wednesday's prize marked the seventh time since 2016 that a lottery jackpot has crossed the billion-dollar threshold. In November 2022, the all-time record $2.04 billion Powerball jackpot sold a single winning ticket at a gas station in Altadena, California, just north of Los Angeles.

It's actually the second time a single billion-dollar jackpot winner was sold in Los Angeles County in less than a year.

Current powerball jackpot winner