One ticket won Saturday night's California SuperLotto Plus jackpot of $88 million by matching all six numbers -- 5, 9, 13, 16, 21 and Mega Number 4.
The ticket was sold in Seal Beach and will be worth $88 million. If the winner chose the cash option, the ticket will be worth roughly $44,000,000 (before taxes). If the winner chose the annual payments, the winner's payment will begin at $2.2 million and graduate to more than $4.48 million by the 26th year (before a 25% Federal withholding is taken out). There are no state or local taxes on California Lottery prizes.
"Now we wait for the winners to come forward," commented Tony Molica, CEO of the California Lottery. "Some of our winners choose to get financial or legal advice before coming forward and some simply don't check their numbers right away. Either way, it's a great way to start the New Year for the lucky winner or winners."
The retailer will receive $440,000 or 1/2 of 1% of the jackpot. The winning ticket was sold at Carriage Trade Liquor at 12101 Seal Beach Blvd. in Seal Beach, CA 90740.
With at least 34% of all Lottery sales going to education, this jackpot generated more than $52 million for California's public schools.
SuperLotto Plus can be played at approximately 19,000 retail business establishments around the state. The SuperLotto Plus draw takes place each Wednesday and Saturday night at 7:58 p.m. Players can purchase tickets until 7:45 p.m. on the night of the draw.
Since CA requires the choice to be made at time of purchase (winner cannot reverse the selection), the CA Lottery should have known by the time the computer went through all the tickets sold to determine whether cash or annuity was selected.
Given that the winner will be in the top tax bracket regardless, and CA does not tax lottery winnings, it would have been especially foolish if annuity was chosen.
Since CA requires the choice to be made at time of purchase (winner cannot reverse the selection), the CA Lottery should have known by the time the computer went through all the tickets sold to determine whether cash or annuity was selected.
Given that the winner will be in the top tax bracket regardless, and CA does not tax lottery winnings, it would have been especially foolish if annuity was chosen.