As we already know that a few days ago an unidentified South Carolina lottery player cashed in on the world’s largest Mega Millions jackpot – the World’s Largest Jackpot and Cash Value payout for a single ticket ever. – This win fell just short of the record for all lotteries – the Powerball jackpot of $1.586 billion set in January 2016.
Turns out, the sole winner is not the only lucky winner in this story. The total spoilers for that fateful Tuesday night’s drawing last October totaled $1,537 million in annuity with a cash option of $877.8 million.
The winning ticket, which had the correct combination for the $1.586 billion jackpot, was sold at KC Mart in Simpsonville, South Carolina, where stores receive 1 percent of the value of a winning ticket for any prize over $10,000.
However, since the unknown sole winner has chosen the cash option payment, pocketing $877,784,124 in the process. C.J. Patel, an Indian immigrant, who has lived in the U.S. for 20 years – also the shop owner of KC Mart, where the winning ticket was purchased, will also, thus, receive $50,000 in commission for selling the winning ticket. Patel bought the business a little more than three years ago. That’s is the maximum commission payable to a store owner for selling a winning ticket.
However, the state of South Carolina will also make a windfall to the value of $61 million in income taxes from the winner.
As Tony Cooper, chief operating officer with the South Carolina Education Lottery once said during a press conference “We are one of the luckiest states.” South Carolina recieves about $60 million in taxes from the prize. Another $10 million to $15 million as a result of sales in Mega Million tickets during this particular run.