The State Controller’s Office (SCO) determines how much money each school district or county will receive at the end of every quarter, and this is then allocated to each district through the State’s Department of Education and County Superintendents. The California Lottery has contributed more than $34 billion to public education since 1985, providing important funding for institutions at all levels, from K-12 right through to Community Colleges and universities. Ninety-five cents from every dollar spent on lottery tickets in California is given back to the community in the form of prize money, funding for education, and compensation for retailers. Prizes claimed through the California Lottery can take up to six weeks to process. You need to fill in a claim form and send it to the following address, along with your winning ticket: California Lottery, 730 North 10th Street, Sacramento, CA 95811. LocationĪlternatively, you can claim prizes of any value by mail. Office hours are Monday to Friday between 8:00am and 5:00pm Pacific Time, excluding holidays. For prizes over this amount, you must complete a California Lottery claim form and take it to one of the District Offices below. Prizes worth up to $599 can be claimed from any licensed lottery retailer in California.
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Finally, when the jackpot exceeds $250 million, at least 60 percent is allocated to the top prize and eight percent to the reserve fund. When the jackpot is more than $120 million but less than or equal to $250 million, 64 percent of the prize fund is allocated to the jackpot and four percent to the prize reserve. When the annuitized jackpot is worth $120 million or less, 68 percent of the prize fund is allocated to the jackpot and nothing is allocated to the prize fund. The percentage allocated to the jackpot and the prize reserve changes depending on the size of the jackpot for the previous draw. The table below shows how the total prize pool is split: Prize Category As a result, the prize amounts may differ to those awarded in other states. The Lottery encourages all players to seek financial advice before claiming a large jackpot prize.Īs with all claims, the names of those receiving prize funds and their city of residence is public record.State law dictates that California’s prizes must all be calculated on a pari-mutuel basis, meaning that they depend on how many tickets are sold and how many winners there are. When claiming a prize as a legal entity, the legal document organizing the entity must list the name of each member of the group, their city of residence, and the portion of the prize each person will receive. This simplifies the tax reporting and prize distribution for a group of people receiving payments over an extended time. While it is not necessary for a group of people to form a legal entity to claim the cash option, the Lottery asks a group of winners to form a legal entity with an assigned tax identification number for a jackpot prize paid in annual installments.
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The group members must decide on one payment option it is not possible for some group members to take the cash option and others to choose the annuity. The Powerball or Mega Millions jackpot prize may be paid in the annuity payment format or the single payment cash option. The Federal Form 5754 allows the Lottery to send a separate W-2G tax form to each individual winner noting the amount won and withheld on their behalf. The person receiving the check for the group also provides picture identification and is responsible for distributing the winnings to the group members.įor a prize paid in a single payment, the check recipient may choose to complete a Federal Form 5754 that ensures the tax obligation of the prize is distributed among the group members according to the gross prize amount of each person’s share. Each member of the group provides a completed IRS Form W-9 for tax reporting purposes at the time of the claim. The prize check is issued to either one person or legal entity (partnership, trust, etc.). The prize on a winning lottery ticket may be split among a group of ticket owners however only one prize check is issued. $50 million (Jackpot split among three winning tickets sold in Louisiana, Florida and Delaware) Since joining the multistate game in March 1995, Louisiana has had a total of 17 Powerball jackpot winners.