Winner of $1.35 billion Mega Millions jackpot to receive less than $500 million

vt-author-image

By Asiya Ali

Article saved!Article saved!

State officials have revealed that the winner of the Mega Millions jackpot will only receive a fraction of their billion-dollar win.

As reported by Insider, it has been revealed that someone has come forward to claim the $1.35 billion jackpot - which is the fourth-largest in US history - through a limited liability company named LaKoma Island Investments LLC.

The lottery champion - who wishes to remain anonymous - purchased the January 13 draw at a local Hometown Gas & Grill in Lebanon, Maine - which is located on a highway in a town near the New Hampshire border.

The soon-to-be multi-millionaire has decided to receive the entirety of their winnings in one lump sum of cash - which state officials have confirmed is them earning $723,564,144 before tax.

wp-image-1263196604 size-full
A lot of their Mega Millions jackpot will be lost to tax. Credit: Richard Levine / Alamy

However, Michael Boardman, the deputy director of the Maine Bureau of Alcoholic Beverages and Lottery Operations, revealed to the Associated Press that around $173.6 million of the winner's prize will go to federal taxes, and $51 million is going to state taxes.

Boardman pointed out that if the person chose to accept the full payout in installments, they would have received their money in 30 payments over 29 years.

The deputy director confirmed that the ticket was valid when a representative for the winner came into the lottery headquarters. The money will be transferred to them by the end of the week.

Lottery officials also disclosed that Hometown Gas & Grill was given a $50,000 bonus for selling the winning ticket. The owner, Fred Cotreau, said that he has shared half of the bonus with his employees.

"We are anxiously waiting to see if it is someone we see regularly here in town that won a whopping 1.3 BIILLLLION DOLLAS," the owner also wrote on his store's Facebook page.

He told the outlet that he doesn't know who the successful person is and added: "We’re going to wait and see if it’s a local. Who knows? Sometimes they come to the store and say thank you, but I’m not going to lose any sleep over it."

wp-image-1263196600 size-full
The winner overcame the odds of one in 302.6 million to become the winner. Credit: ZUMA Press, Inc. / Alamy

The winner overcame the odds of one in 302.6 million and has become the first person from Maine to succeed in the Mega Millions jackpot - which is played in 45 states as well as the District of Columbia and the U.S. Virgin Islands.

Despite them only taking home a fraction of the full amount, it is still nothing to lose sleep over.

Featured image credit: Timon Schneider / Alamy

Winner of $1.35 billion Mega Millions jackpot to receive less than $500 million

vt-author-image

By Asiya Ali

Article saved!Article saved!

State officials have revealed that the winner of the Mega Millions jackpot will only receive a fraction of their billion-dollar win.

As reported by Insider, it has been revealed that someone has come forward to claim the $1.35 billion jackpot - which is the fourth-largest in US history - through a limited liability company named LaKoma Island Investments LLC.

The lottery champion - who wishes to remain anonymous - purchased the January 13 draw at a local Hometown Gas & Grill in Lebanon, Maine - which is located on a highway in a town near the New Hampshire border.

The soon-to-be multi-millionaire has decided to receive the entirety of their winnings in one lump sum of cash - which state officials have confirmed is them earning $723,564,144 before tax.

wp-image-1263196604 size-full
A lot of their Mega Millions jackpot will be lost to tax. Credit: Richard Levine / Alamy

However, Michael Boardman, the deputy director of the Maine Bureau of Alcoholic Beverages and Lottery Operations, revealed to the Associated Press that around $173.6 million of the winner's prize will go to federal taxes, and $51 million is going to state taxes.

Boardman pointed out that if the person chose to accept the full payout in installments, they would have received their money in 30 payments over 29 years.

The deputy director confirmed that the ticket was valid when a representative for the winner came into the lottery headquarters. The money will be transferred to them by the end of the week.

Lottery officials also disclosed that Hometown Gas & Grill was given a $50,000 bonus for selling the winning ticket. The owner, Fred Cotreau, said that he has shared half of the bonus with his employees.

"We are anxiously waiting to see if it is someone we see regularly here in town that won a whopping 1.3 BIILLLLION DOLLAS," the owner also wrote on his store's Facebook page.

He told the outlet that he doesn't know who the successful person is and added: "We’re going to wait and see if it’s a local. Who knows? Sometimes they come to the store and say thank you, but I’m not going to lose any sleep over it."

wp-image-1263196600 size-full
The winner overcame the odds of one in 302.6 million to become the winner. Credit: ZUMA Press, Inc. / Alamy

The winner overcame the odds of one in 302.6 million and has become the first person from Maine to succeed in the Mega Millions jackpot - which is played in 45 states as well as the District of Columbia and the U.S. Virgin Islands.

Despite them only taking home a fraction of the full amount, it is still nothing to lose sleep over.

Featured image credit: Timon Schneider / Alamy