Unpredictably, she found herself on the receiving end of some good fortune.
When LaQuedra Edwards deposited $40 into a lottery scratchers machine at a Vons Supermarket in Tarzana, California, last November, luck was on her side in a way that she could not have anticipated.
Edwards did not get to select her ticket on that particular day; instead, a random person unintentionally bumped into her, which led to her selecting a $30 200X Scratchers ticket by mistake, which ultimately led to her winning a reward of $10 million.
Edwards recounted the fortuitous meeting, stating, “this rude person” bumped into her, “didn’t say a thing, and just walked out the door.” Edwards was referring to the individual who did not speak to her. After realizing that she wouldn’t be able to purchase her standard group of lower-priced tickets, Edwards headed back to her car, where she was then greeted with the shock of a lifetime.
After scratching the ticket, she discovered that she had just won millions of dollars. Edwards explained, “At first, I didn’t really believe it, but then I got on the 405 highway and kept glancing down at (the ticket), and I almost crashed my car.” “I pulled over, looked at it again and again, and scanned it with my (California Lottery mobile) app, and I just kept thinking this can’t be right,” the narrator said. “It’s impossible.”
Edwards intends to put her gains toward the purchase of a home and the launch of a charitable foundation. The Vons store that was responsible for selling the winning ticket will be awarded a bonus of $50,000 for their efforts.
How much of Edwards’s money will be left over once taxes are paid? In spite of the fact that California has one of the nation’s highest tax rates, the state makes an exception for people who win the lotto (those who bought their tickets in the state, at least.) But those gains will typically be subject to the highest federal tax rate of 37%, and when combined with the total annual income, they may be liable to taxes levied by the state and the municipality in where they were earned.
It’s safe to conclude that Edwards’ wins are worth more than the apology she didn’t get in front of the lottery machine that day. She may not be a whole $10 million richer, but it’s safe to say that her winnings are worth more than the apology.
Learn more: 4 Effective Strategies to Reduce Your Income Taxes