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LOS ANGELES – A lucky lottery player in Sunnyvale is waking up nearly half a million dollars richer after matching five numbers in Monday night\u2019s Powerball drawing.\u00a0<\/p>\n
What we know:<\/p>\n
The California Lottery<\/a> confirmed that the ticket , sold at the Shell gas station at 766 N. Mathilda, matched five numbers (17, 32, 48, 60, 64) but missed the Powerball number (10).\u00a0<\/p>\n The exact prize amount is $481,655.\u00a0<\/p>\n How much do you win after taxes? <\/p>\n By the numbers:<\/p>\n Calculating your “take-home” pay for a prize of this size requires looking at federal obligations, as California state tax is 0% for this win.<\/p>\n Immediate Withholding: The IRS requires an automatic 24% federal withholding on prizes over $5,000. For this $481,655 prize, $115,597 would be sent immediately to the IRS, leaving an initial check of approximately $366,058.<\/p>\n The Tax “Gap”: Because $481,655 is a significant addition to your yearly income, it will likely push you into a higher federal tax bracket (up to 35% or 37% depending on your other earnings).<\/p>\n Estimated Final Total: After filing year-end taxes, a single filer should expect to pay an effective federal rate closer to 30-33%. This means the final take-home amount after all federal obligations would likely be between $320,000 and $340,000.<\/p>\n What’s next:<\/p>\n The Powerball jackpot has now rolled over to an estimated $154 million for the drawing on Wednesday, May 27.\u00a0<\/p>\n The Source: This report is based on information from the California Lottery.<\/p>\n Lottery<\/a>California<\/a>Instastories<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"LOS ANGELES – A lucky lottery player in Sunnyvale is waking up nearly half a million dollars richer…\n","protected":false},"author":2,"featured_media":333869,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[1184,7,9,8,2444,22715,100,425,1181],"class_list":["post-333868","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-ca","tag-california","tag-california-headlines","tag-california-news","tag-instastories","tag-lottery","tag-news","tag-series","tag-us"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/333868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=333868"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/333868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/333869"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=333868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=333868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=333868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}