A Mega Millions lottery ticket with five of the six winning numbers sold at Quick Stop Liquors in San Luis Obispo is worth $562,472.
But that’s before taxes.
Since that amount is less than $1 million, the retailer will not get a bonus.
The owner of Quick Stop had hoped the sale would mean big bucks, but the ticket fell about $400,000 short.
“It is within the expectations, but there is always next time,” said Issa Abdullah.
In the end, it’s not the money that matters.
“It ain’t about the money anymore,” added Abdullah. “It’s just like when you see so many people excited, it just makes you feel a part of the community and customers you see every day do become part of your family.”
Based on the winner’s residential status, 24 percent for federal taxes is automatically withdrawn.
Assuming that person is a single filer, he or she is responsible for paying another 13 percent in taxes.
A California Lottery spokesperson says it’s better to win in California for this reason.
“We’re lucky in this sense because California doesn’t have any state income taxes on lottery winnings,” said Greg Parashak, California Lottery spokesperson. “It was part of the initial Lottery Act that was passed in the mid-80s and it’s never changed, so we are one of the few and if not maybe the only state.”
Looking to try your luck at this winning store?
According to a Cal Poly statistician, the chances of getting a winning Mega Millions ticket there again aren’t any different.
“The probability of any particular ticket wins is just one in 300 million and that’s regardless of which store you buy it at,” said Kevin Ross, a Cal Poly associate statistics professor.
After a total of 37 percent in federal taxes, the lucky San Luis Obispo winner will walk away with a little over $350,000.
“Two dollars can make your dreams come true,” Abdullah said.
Winners have 180 days from the drawing to claim their prize.
If you didn’t win the Mega Millions, you might have another chance at becoming a billionaire.
A California Lottery spokesperson tells KSBY, if no one hits the Powerball jackpot in Wednesday’s or Saturday’s drawing, the jackpot will likely reach $1.5 billion.
— California Lottery (@calottery) October 24, 2018
The Powerball jackpot currently sits at $620 million and the drawing is at 7:59 pm PST Wednesday.
If no one wins, it will roll over to Saturday.