Fortune shines upon The Golden State as a lottery player in California wins the $1 billion Powerball jackpot, the biggest prize since November
Wednesday's winner should expect to pay a 37 percent tax rate on most of the winnings, since the US tax service considers lottery winnings as ordinary income and the jackpot puts them in the top tax bracket. / Photo: AP
"California has a new Powerball Billionaire!" the California State Lottery announced on Twitter on Thursday. The billion-dollar jackpot is the biggest prize since November and only the third time the pot has reached the billions, The Washington Post reported.
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