While an automatic 24% is withheld upfront, you would almost certainly owe a total of 37% when you file your 2024 tax return.

It now sits at an estimated $1.15 billion, with a cash option of $516.1 million, making it the fifth-largest Mega Millions ...

If you stand to claim a Mega Millions jackpot, or any other lottery prize, one of the first things you should do is seek out ...

The Mega Millions jackpot prize has grown to $825 million ahead of Friday night's draw — the seventh-largest sum in the ...

For the current estimated $1.22 billion Mega Millions jackpot, the cash payout is $549.7 million, according to the website. After taxes that's about $418 million, which doesn't sound nearly as ...

Friday’s jackpot was the fifth-largest Mega Millions prize in US history and the winning ticket was sold at Sunshine Food and ...

Massive lottery prizes in the US have become increasingly common in recent years, attributed to changes in game rules and ...

The Mega Millions jackpot climbed to $670 million ... as some states like New York tax lottery winnings at 10.9%, while others like Texas, Florida, and California don’t. Get Forbes Breaking ...

which would be reduced to $15.9 million after a 24% mandatory tax withholding, or to $13.2 million with a federal marginal rate as high as 37%. The jackpot is the eighth-largest in Mega Millions ...

Mega Millions now in the billions: Lump sum or cash option? What to know about payouts, taxes The IRS requires the Florida Lottery to withhold 24% federal withholding tax from any prizes greater ...