six numbers<\/a> drawn on Tuesday night were 2, 4, 10, 48, 56 and gold Mega Ball 22.<\/p>\nIf a winner emerges in the next draw, they will have a choice between taking the $672 million split over 30 annual installments or a one time cash prize of $293.3 million\u2014the preferred option for most winners.<\/p>\n
If the cash payout is chosen, the winnings will first drop to around $222.9 million after a mandatory 24% federal withholding is applied.<\/p>\n
The winner is likely to face a federal marginal rate as high as 37%, depending on their overall taxable income, further slashing their winnings to around $184.8 million.<\/p>\n
If the installment route is chosen, the winner\u2019s annual payouts of around $22.4 million would drop to $14.1 million after the 37% federal marginal tax rate is applied.<\/p>\n
Depending on their place of residence, the winner could face additional taxes, as some states, such as New York, tax lottery winnings at 10.9%, while others, such as Texas, Florida, and California, don\u2019t.<\/p>\n
What To Watch For?<\/p>\n
The next Mega Millions jackpot draw will take place on Friday night. The Powerball jackpot, which has risen to $498 million, will have its next drawing on Wednesday night.<\/p>\n
Surprising Fact<\/p>\n
A Mega Millions ticket buyer will have to overcome astronomical odds of 1-in-290.4 million to win the lottery. This is only slightly better than the Powerball jackpot\u2019s even poorer odds of 1-in-292.2 million. <\/p>\n
Key Background<\/p>\n
The biggest lottery prize claimed so far this year is a $533 million jackpot won by a Mega Millions ticket buyer from Illinois in March. No other lottery prize has crossed $500 million this year. The biggest claimed Powerball jackpot of the year so far is a $250.8 million prize won by a lottery player from Arkansas.<\/p>\n","protected":false},"excerpt":{"rendered":"Topline The Mega Millions jackpot climbed to $672 million\u2014the biggest lottery prize of the year so far\u2014after no…\n","protected":false},"author":2,"featured_media":764367,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,24662,326946,130437,151091,52263],"class_list":["post-764366","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-lottery","tag-lottery-prize","tag-mega-millions","tag-mega-millions-jackpot","tag-powerball"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/764366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=764366"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/764366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/764367"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=764366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=764366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=764366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}