Drew Angerer | Getty Photos Information | Getty Photos
Eyeballing that Mega Thousands and thousands jackpot? Good ol’ Uncle Sam is, too.
After greater than two months of twice-weekly drawings with nobody matching all six numbers, the highest prize has climbed to $367 million for Tuesday evening’s drawing. The final jackpot gained was on March 12, for $50 million.
In fact, the marketed quantity is not what winners find yourself with.
Whether or not they take the prize as an annuity unfold out over three a long time or as a direct, diminished lump sum, 24% is withheld for federal taxes. Nonetheless, the highest marginal tax price of 37% means owing much more to the IRS at tax time. State taxes sometimes are due, as properly.