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Mega Millions Jackpot Nears $500 Million—Here’s What The Winner Could Take Home After Taxes
Key takeaways
- The Mega Millions jackpot neared $500 million after Tuesday's drawing.Getty Images Key Facts.
- If a winner emerges in the next draw, they will have a choice between taking the $489 million prize spread over 30 annual installments or a lump sum cash payout of $220.9 million—the preferred option for most winners.
- If the winner picks the cash prize, their winnings will first drop to around $167.9 million after a mandatory federal withholding of 24% is applied.
Topline The Mega Millions jackpot rose to $489 million—the second biggest lottery prize of the year so far—after no tickets matched all six numbers drawn on Tuesday night, although the eventual winner will take home a much smaller payout after taxes and deductions.
The Mega Millions jackpot neared $500 million after Tuesday's drawing.Getty Images Key Facts. The six numbers drawn on Tuesday night were 48, 51, 60, 63, 66, and Mega Ball 20.
If a winner emerges in the next draw, they will have a choice between taking the $489 million prize spread over 30 annual installments or a lump sum cash payout of $220.9 million—the preferred option for most winners.
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