LOS ANGELES – Feeling lucky? The highly-anticipated $207 million Powerball jackpot winner is reportedly in Los Angeles.
What we know:
According to California Lottery’s website late Saturday night, the jackpot-winning ticket was sold at a 7-Eleven at 8960 Woodman Avenue in Arleta.
This comes as a drawing was held for the then-jackpot of $207 million. Below were the winning numbers for the May 31 drawing:
1, 29, 37, 56, 68. PB: 13
The drawing for the now-reset jackpot – which is $20 million – will be held on Monday, June 2 at 8 p.m. PT.
HOW MUCH DO YOU WIN AFTER TAXES?
There are $20 million of reasons to dream, especially what you would do with the jackpot money. However, one thing all lottery winners have to take into account is the fact that their prizes will be taxed.
So how much do you really get after taxes?
It depends on a couple of factors: do you have to pay state taxes where you live? Will you take the lump sum payment or the annuity payout?
According to Mega Millions’ website, those electing to take the annuity option get one immediate payment followed by 29 annual payments. Powerball follows an identical process for paying out its jackpot winners.
RELATED: Powerball payout calculator: How much would you get after taxes if you won?
