Winner gets $433.7 Million After Taxes
The winner of the biggest Mega Millions lottery is a resident of Illinois. The ticket was purchased at a gas station and he is the only winner of the mega jackpot. According to officials, the winning numbers were 13, 36, 45, 57 and 67 and the mega ball of 14. The winner can claim a $780.5 million as a lump sum or receive payments in an annuity over the next 30 years.
If winner chooses the lump sum option they will have to pay mandatory 24% federal tax withholding. I’m sure they wouldn’t mind that option. The state taxable income would be 4.95% a minimum as long as they don’t live in a stat with a higher income rate.
Whomever they are we wish them the best and hope that they will hire a team of professional to assist them. A financial advisor will definitely be needed.