A single winning ticket sold in California claimed the record $2.04 billion Powerball prize on Tuesday, giving the lucky winner a choice of receiving 30 annual payments over 29 years or a smaller lump sum.
A ticket in California was the winner of the largest lottery prize in history.
The winning ticket was sold at Joe's Service Center, which is 10 miles north of Los Angeles.
If the winner chooses the lump sum, they will walk away with almost a billion dollars before taxes.
If the winner had no additional income, dependents or itemized tax deductions, the prize would be reduced by another $126 million.
The winner can choose to take the full $2.04 billion over 30 payments, but they will have to pay federal taxes.
By the Monday night drawing, the grand prize was over $2 billion, up from the previous record of $1 billion. If there hadn't been a winner, it would have increased to more than $2 billion. The previous record was set in January 2016 when three winners in California, Florida and Tennessee split the prize. The biggest Mega Millions prize ever was claimed in October of last year.
California is one of 14 states that don't take a cut of the prize winnings. Washington D.C. has the highest state taxes. New York City is one of several cities that imposes local income taxes.
After no ticket was sold for Monday's draw, the grand prize jumped to a record $2.3 billion.
One winner claimed a record $2.04 billion Powerball prize.
The odds, taxes, and value of the largest lottery in the world.
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