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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 - Three Powerball tickets, each worth about $800,000, were sold in California over the weekend.
According to the California Lottery's website on Saturday night, the aforementioned tickets – each worth up to $809,204 – were sold at a Chevron gas station in the 11900 block of West Olympic Boulevard near West Los Angeles. A second ticket was sold at a Shell gas station on Santa Rita Road in Pleasanton and the third ticket was sold at a La Buena Market on East Helen Avenue in Fresno County.
This comes as a drawing for the then-jackpot of $707 million was held on Saturday, August 1. The following were the winning numbers for the Aug. 1 drawing, which apparently no one got all six numbers:
6, 17, 27, 48, 50. PB: 5
The drawing for the upcoming $748 million jackpot will be held on Monday, August 3 at 8 p.m. PT.
HOW MUCH DO YOU WIN AFTER TAXES?
There are 45 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. 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?
This story was reported from Los Angeles.
The Source: This report used information provided by the California Lottery's website.