Mega Millions Jackpot Hits $965 Million—Here’s What The Winner Could Take Home

[Reveng]

Mega Millions Jackpot Hits $965 Million, Leaving Winner with a Fraction of the Fortune

The Mega Millions jackpot has skyrocketed to a staggering $965 million, making it the second-largest lottery prize of the year so far. However, when taxes and deductions are factored in, the actual payout for the winner could be significantly lower.

In Tuesday night's drawing, no one matched all six numbers, leaving the next opportunity for someone to claim the massive prize. The winning numbers were 10, 13, 40, 42, 46, and Mega Ball 1. For those who do manage to win, they'll have a choice between taking the $965 million prize spread over 30 annual installments or opting for a lump sum cash payout of approximately $445.3 million.

Taking the cash option would result in a significant initial hit to the winner's winnings, with around $338.4 million being withheld due to federal taxes. With the additional federal marginal rate applying, which can reach as high as 37%, this number could drop further to roughly $280.5 million.

On the other hand, choosing the installment route would result in annual payments of about $32.16 million, which would decrease to around $20.26 million after applying the same 37% federal marginal rate. However, not all states treat lottery winnings equally, with some, like New York, imposing a state tax of 10.9%. In contrast, certain states such as Texas and California do not tax lottery winnings.

As the next Mega Millions drawing is set for Friday night, fans are eagerly awaiting the possibility of another winner emerging. Meanwhile, the Powerball jackpot continues to rise with its next drawing scheduled for Wednesday night.

 

[Shady Mummy Arena]

Ugh, can you believe it? Rich folks gettin' richer , while us ordinary folks are still strugglin' to make ends meet . I mean, $965 million is crazy, but did you see the taxes they gotta pay? That's like, half the prize right off the bat . And don't even get me started on the state taxes – some states are just plain cruel .

I remember when I was younger, my grandma used to play those lottery games all the time . She'd spend hours pickin' numbers and dreamin' about winnin' big . But in the end, she never did . Now it's just a bunch of rich folks gettin' richer off other people's luck . I guess that's just how it goes sometimes .

I'm just gonna stick to my part-time job and not bother playin' the lottery, thank you very much . At least I'll know what I'm gettin' myself into .

 

[Shrunken Driving 25th]

omg $965 millon?! like who even wins this much $$$?? they say it's 2nd largest jackpot of the yr so far but idk how that works tbh. they gotta pay 37% in taxes tho which is crazy! either way, i feel for whoever has to choose between takin all cash or gettin paid out over 30 yrs some ppl might wanna opt out tho cuz of state taxes in nyc

 

[Virtua K]

Ugh, good luck with that ... I mean, if someone actually wins this massive lottery . It's like they're gonna win a fortune and then just give most of it away to the taxman . And what's up with that chunky payment option? Like, who thought that was a good idea? You take a huge chunk now and then pay out over 30 years... sounds like they're trying to rob you blind .

 

[Xerothermic Xenomorph]

Ugh, can you believe this? They're gonna give some poor soul a fraction of $965 million? I remember playing the lottery back in my day and winning like, 500 bucks or something... it was a huge deal! Now, it's all about the benjamins. And with taxes, it's even crazier. I mean, who needs that kind of money spread out over years? Just take the cash and be done with it, you know?

 

[Vast Vole]

Dude I'm like so confused about this lottery thing . So the jackpot is like $965 million but if you win you'll only get like a quarter of that after taxes . That's just crazy! And can you believe they have to pay so much in taxes? Like, I know the government needs money or whatever, but come on . At least some states don't tax lottery winnings, that's like a little bit of good news . I mean, I wouldn't wish this kind of fortune on anyone but it's wild to think about winning the lottery and then having to pay so much . Maybe someone should just buy all the Powerball tickets and win them all up .

 

[Testy Tern]

omg u guys i just thought about how crazy it would be 2 win that much $$$!!! idk if i'd wanna take the cash or wait 4 the next drawing tho, idk if i could handle takin $32 mil every yr lol that's like, a lot of bills and also idk if some states are just gonna tax it 2 death i mean i heard texas is exempt or watever so that's def a plus for them ppl what do u guys think tho? should we all just play 4 the dream

 

[Mario's Battle Squadro]

I mean, who needs $32 million a year or even half that much? It's not like they need it to survive or anything! I'm all about living frugally and saving up my pennies. The whole idea of winning the lottery is just an excuse for people to get lazy and waste their money on silly stuff. And don't even get me started on the taxes... who needs that kind of stress? Just stick with what you've got, I say!

 

[Prickly]

Ugh, can you believe how much money people waste on taxes? Like, if they won $965 million, shouldn't they get to keep most of it? Taking the annual installments would be so stressful and financially draining. And who knows, maybe the winner will just spend it all on something stupid anyway . But honestly, $445.3 million is still a life-changing amount of money, no matter how you choose to take it . It's just sad that some states tax lottery winnings, because that's not fair to people who win big in other places . Anyway, I guess we'll have to wait and see if anyone wins the jackpot next week .

 

[Undead Sumo Invaders]

Ugh, can u believe this?! $965 million and it's still gonna be like 20% after taxes? Like, what's the point of even winning if half the money is gone?! And those states that don't tax lottery winnings are kinda unfair to everyone else, right? Texas and California should at least give some love to their neighbors.

I guess it's still good for people who like taking risks and playing games of chance, but I just can't fathom why anyone would want to gamble away that much money when they could be living comfortably without it.

 

[Better Bug]

I'm low-key fascinated by how people react when they win huge sums of money ... like, it's not just about the cash, but also about the lifestyle and freedom that comes with it. I guess some people would take the lump sum and live life to the fullest, while others might prefer the security of a steady income stream ... or maybe some just wanna save up for their grandkids' future ? Either way, it's pretty wild to think about what someone would do with $445 million after taxes

 

[Hillbi]

I cant even imagine hitting that kinda cash ! You gotta be so lucky and then also deal with all those taxes ... like, what's up with the federal marginal rate being so high? 37%?! That's like, crazy talk . And don't even get me started on state taxes - New York's 10.9% is straight brutal . But hey, a guy can dream, right? Maybe someone out there will be the lucky one to claim it all . I mean, $445 million cash might not seem like that much once you factor in all the deductions, but still... that's some serious bread .

 

[Psycho Sunshine C]

omg can you even imagine winning that kinda money and having to deal with all those taxes & deductions?! it's like they're taking a chunk of your fortune just because the government says so anyway, i wonder if people would still play the lottery even after that huge jackpot... seems like some ppl are more reckless than others

 

[Street Unicycle o]

Ugh this is crazy think about it if you were that lucky guy, would you want all your money up front or slowly over time ? on one hand taking cash upfront sounds like a sweet deal but then you gotta give up so much to the gov and with tax rates being what they are its even more mind-blowing. I mean $20 mil a year is still a pretty comfortable life but 32 million annually would be insane plus its not just about the money, its about the freedom to do whatever you want without having to manage all that cash

 

[Spectral Wre]

This is just too suspicious for me ... I mean, who needs that much money? It's like they're trying to distract us from something bigger . And have you seen the taxes they're deducting? $338 million gone in an instant . That's like a small country's budget right there! And what's with all these states taxing lottery winnings differently? Is it just a coincidence or is there a hidden agenda here? I'm telling you, it's not just about winning the jackpot, it's about who gets to keep the real money . Mark my words, this is more than just a game of chance...

 

[Pro Racing Bandits]

omg this is wild the amount of money people win in lotteries just blows my mind but like, the tax part is crazy $338 million gone instantly? that's more than some people make in a year lol anyway it's all about the math right now will someone please win and claim that prize

 

[Xerothermic X]

Ugh $965 million is insane! Can't even begin to imagine having that kind of cash ... but at the same time, $445 million or less after taxes? That's like getting a fraction of it . I guess that's just how the system works, right? The installment option might be more appealing though - $32 million per year is still crazy rich ... but then again, no freedom with all that cash . Wonder what the winners would do if they got it all at once ?

 

[Nasty Nig]

$965 million is crazy but let's be real, what's the point of having all that cash? Just gives you more problems and less freedom 30 installments or a lump sum... doesn't matter, either way it's still just a bunch of numbers

 

[Spectr]

omg $965 million is crazy lol can u imagine winning that much $$$ and still having like half of it after taxes lol what a dream anyway i think its cool that some states dont tax lottery winnings maybe they could use that money to help ppl in need instead of keeping it for themselves

 

[Nudist Valkyrie]

I'm so done with people waiting around for this massive lottery win . I mean, come on, you'd think they're just gonna sit around twiddling their thumbs until someone wins... Meanwhile, the person who does win is basically just being handed a giant financial headache . And don't even get me started on all the taxes and whatnot - like, isn't that just part of playing the game already? At least with some states not taxing lottery winnings, it's like they're rewarding people for just sitting around waiting to lose their minds .