The Mega Thousands and thousands jackpot is projected to attain an estimated $1.55 billion for its subsequent drawing on Tuesday, the lottery’s largest prize ever—despite the proven reality that the winner would possibly per chance get lower than one-third of that quantity after paying required taxes.
The Mega Thousands and thousands jackpot is projected to attain $1.55 billion for its Tuesday drawing.
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Key Details
The winner—going by contrivance of odds of 1 in 302.6 million—can get the $1.55 billion over 30 annual payments or as an up-entrance lump sum of $757.2 million.
The lump sum charge would be diminished to $575.4 million by a an awfully indispensable federal tax withholding of 24%, while a federal marginal rate as high as 37%—reckoning on the winner’s taxable earnings—would possibly per chance drop the winnings to appropriate over $477 million.
Numerous states tax lottery winnings, with charges as low as 2.5% in Arizona ($18.9 million) to as high as 10.9% in Fresh York ($82.5 million), despite the proven reality that some states—including California, Florida and Texas, among others—don’t tax lottery winnings.
Two tickets obtained $2 million in Friday evening’s drawing, besides to seven other tickets that obtained $1 million.
Unpleasant Truth
The largest jackpot ever obtained is a $2.04 billion Powerball prize claimed closing 365 days. The Mega Thousands and thousands jackpot is projected to be the third-largest prize ever, trailing a $1.58 billion Powerball jackpot obtained in 2016.
Huge Number
5,331,114. That’s what number of a hit tickets bear been bought for Friday’s drawing. Of those, 24 obtained $20,000 and 104 obtained $10,000.
Key Background
The Mega Thousands and thousands jackpot has eclipsed the $1 billion label four other instances, every in the closing 5 years. All 10 of the largest jackpots ever bear been claimed in the closing seven years, after both the Powerball and Mega Thousands and thousands lotteries increased the amount of white ball numbers to design from, worsening the odds of a hit both jackpot. The Powerball jackpot most no longer too lengthy in the past eclipsed $1 billion closing month, after a brand holder obtained $1.08 billion in California.
