Mega Millions: Good Day LA kids say what they would do if they won a billion dollars
Here’s how the kids would spend the money.
LOS ANGELES – As the country awaits the winner of the $560 million Mega Millions jackpot, someone in California may be $500,000 richer.
According to California Lottery’s website late Friday night, a ticket worth about $508,408 was sold at a 76 gas station on Chino Avenue in Chino Hills.
The news comes as the following were the winning numbers for the then-jackpot of $522 million, which apparently no one got:
4, 11, 23, 33, 49. MB: 23
The drawing for the $560 million jackpot will be held Tuesday, June 4 at 8 p.m. PT.
HOW MUCH DO YOU WIN AFTER TAXES?
There are 560 million 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, a process that is identical to Powerball with their payouts.
RELATED: Powerball payout calculator: How much would you get after taxes if you won?