One note: Your winnings could also be subject to local taxes in some states. Click here for USA Mega, a website that provides information on lotteries in the United States and around the world, and breaks down by state what you would take home if you win the Mega Millions drawing — both the lump sum option and the annuity option.
Be aware that while the standard advice is to sign the back of the ticket, this could interfere with remaining anonymous if your state requires the winner's name to be made public. In that case, you may be able to create a trust or limited liability corporation to claim the windfall instead of doing so in your own name.
Additionally, resist the urge to share the news with everyone in your life right away. Experts recommend keeping the circle of people who know as small as possible. It's also worth enlisting the help of experienced professionals who can guide you through the claiming process and help you make a financial plan for the money. That team should include an attorney, a tax advisor and a financial advisor.
Jackpot winners get to decide between taking an immediate lump sum or spreading out their winnings over three decades. Either way, the IRS will take 24 percent before the money reaches you. You also should anticipate owing more to Uncle Sam at tax time. Additionally, you'll pay state taxes on the money unless you live where lottery wins are untaxed. For states that do take a piece, the rate ranges from a high of 8. Before spending a dime, think about what your sudden wealth means.
Not just financially, but emotionally. Instead of giving in to the temptation to buy big-ticket items right off the bat, give yourself time to process the magnitude of your win. With millions of people playing, jackpots can roll to even higher levels at a faster rate. You choose six numbers and there are nine exciting ways to win in the game. Until further notice, the starting jackpot will vary based on sales and will be announced before each drawing.
Winning numbers are posted shortly after each drawing. Information on the number of winners is posted on Wednesday and Saturday mornings after Mega Millions lottery security has verified winning ticket sales. Many individual lotteries offer an email or texting service where you can automatically receive winning numbers after each draw.
Find your lottery on our Where to Play page for more information. You can also call a player information telephone number in each Mega Millions state. These numbers are listed on the Contact Us page. And as interest in the multi-state games grew, so did the participants. Sales for the country's newest multi-state jackpot game began on May 15, , and the first drawing was May 17, It didn't take long for players in other states to join the mega fun!
By September , Washington had joined Mega Millions and in December , Texas began offering the game to its players. In June , California became the 12th member, solidifying Mega Millions as the country's most widely played multi-state jackpot game.
On January 31, , 23 more state lotteries joined Mega Millions as an historic cross-selling agreement between Mega Millions and Powerball went into effect. Eastern Time, p. Central Time, p. Mountain Time, p. Pacific Time. Check with your state lottery for the cut-off time to purchase tickets.
See our How to Play page for details of all prize levels. To find out if your state participates, visit the lottery web site in the state in which you bought the ticket. Just the Jackpot tickets are not eligible for any other prize levels. Claim periods vary by jurisdiction based on local rules and regulations, so the time period for claiming prizes ranges from 90 days to one year from the draw date.
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