Friday's Mega Millions drawing brought no jackpot winners, pushing the prize up to an estimated $875 million for Tuesday.
The increase places the upcoming jackpot within the top 10 jackpots ever, surpassing the $842.4 million jackpot one by someone in Michigan on Jan. 1, 2024.If someone did win Friday's grand prize, they could have opted for a $385.1 million cash option, which would be a one-time payment in lieu of receiving the $815 million.
The large sum is for the 30-year option, which gives winners one immediate payment and continues to give annual payments over the next 29 years. The payments increase by 5% each time in the annuity option, however most choose the cash option.There's a mandatory 24% federal withholding for winnings above $5,000 that goes straight to the IRS. Some states tax lottery winnings as well, but states like California, Florida and Texas do not, at least initially as income.
Lottery jackpots grow so large because the odds of winning are so small. For Mega Millions, the odds of winning the jackpot are about 1 in 302.6 million. Winnings will also be taxed by the federal government. There's a mandatory 24% federal withholding for winnings above $5,000 that goes straight to the IRS. Some states tax lottery winnings as well.Business
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Mega Millions jackpot jumps to $735 million after no big winner drawn Friday nightThe Mega Millions jackpot has reached an estimated $735 million for Tuesday's drawing after no one won the jackpot Friday night.
Les mer »
Here are the winning numbers for Friday's $687 million Mega Millions jackpotThe winning numbers for the sixth largest Mega Millions jackpot in history were drawn Friday night, giving people across the country a chance at becoming a…
Les mer »
6th largest Mega Millions jackpot hits $687 million for Friday's drawingThe sixth largest Mega Millions jackpot is set to be drawn Friday night.
Les mer »
How much is the Mega Millions jackpot for Friday's drawing?The Mega Millions lottery game jackpot rose to a record-breaking $792 million ahead of Friday's drawing.
Les mer »
Mega Millions jackpot hits $815 million for Friday's drawingA winner could opt for a $385.1 million cash option, which would be a one-time payment in lieu of receiving the $815 million over 30 years
Les mer »
Here are the winning numbers for Friday's $815 million Mega Millions jackpot drawingThe winning numbers were drawn for Mega Millions' $815 million jackpot Friday night.
Les mer »