Florida lottery ticket hits $1.58 billion jackpot, nets $493.5 million post-tax
1 year, 5 months ago

Florida lottery ticket hits $1.58 billion jackpot, nets $493.5 million post-tax

Live Mint  

The fortunate recipient of the $1.58 billion Mega Millions jackpot hails from Florida. As per a report by Forbes, while the initial assumption might be that you would receive the entire $1.58 billion, that sum is applicable only if you opt for the staggered payments over a span of 30 years, equivalent to 30 annual instalments. An immediate deduction of $187,992,000 is taken by the IRS due to the requirement in tax law for a 24% federal income tax withholding, which is promptly forwarded to the IRS. Forbes highlighted that since gambling winnings necessitate obligatory federal withholding taxes, the lump sum payment is subject to a mandatory federal tax withholding of 24%, leading to a reduction of the lump sum to $595,308,000 million.

Tax Irs  hits  ticket  jackpot  million  posttax  lottery  withholding  payment  federal  prize  billion  nets  irs  24  millions  tax  sum  4935  receive  florida

History of this topic

Wealth advisor, tax accountant, estate attorney and therapist — what support does a $1.2 billion lottery winner need?
1 week, 5 days ago

Wealth advisor, tax accountant, estate attorney and therapist — what support does a $1.2 billion lottery winner need?

Live Mint  

For the winner of a $1.26 billion Mega Millions jackpot ticket sold in California, the ecstasy of the big win may soon give way to the anxiety over some big choices. “This is a life changing moment and they don’t need to make every decision right away,” said Matthew Liebman, chief executive officer and founding partner of Amplius Wealth Advisors. …

Winning ticket for $1.22 billion lottery jackpot sold in California, Mega Millions says
2 weeks ago

Winning ticket for $1.22 billion lottery jackpot sold in California, Mega Millions says

Live Mint  

ATLANTA — At least one Mega Millions player has plenty of dough to ring in the New Year after drawing the winning number. After three months without anyone winning the top prize in the lottery, a ticket worth an estimated $1.22 billion was sold in California for the drawing Friday night, according to the Mega Millions website. Until Friday, the …

Winning ticket for $1.22 billion lottery jackpot sold in California: Mega Millions
Top News
2 weeks ago

Winning ticket for $1.22 billion lottery jackpot sold in California: Mega Millions

India Today  

At least one Mega Millions player has plenty of dough to ring in the New Year after drawing the winning number. After three months without anyone winning the top prize in the lottery, a ticket worth an estimated $1.22 billion was sold in California for the drawing Friday night, according to the Mega Millions website. Until Friday, the last time …

Another jackpot surpasses $1 billion. Is this the new normal?
Top News
2 weeks, 1 day ago

Another jackpot surpasses $1 billion. Is this the new normal?

Associated Press  

Remember this moment because it probably won’t last: A U.S. lottery jackpot is projected to soar above $1 billion, and that’s still a big deal. “The question lurking is, what happens when $1 billion becomes routine and people don’t care about it anymore?” said Jonathan D. Cohen, author of the 2022 book “For a Dollar and a Dream: State Lotteries …

Mega Millions jackpot tops $1 billion again : A new normal for lottery wins?
Top News
2 weeks, 1 day ago

Mega Millions jackpot tops $1 billion again : A new normal for lottery wins?

India Today  

Remember this moment because it probably won’t last: A U.S. lottery jackpot is projected to soar above $1 billion, and that’s still a big deal. “The question lurking is, what happens when $1 billion becomes routine and people don’t care about it anymore?” said Jonathan D. Cohen, author of the 2022 book “For a Dollar and a Dream: State Lotteries …

Winning $1.22-billion Mega Millions ticket sold in California
2 weeks, 1 day ago

Winning $1.22-billion Mega Millions ticket sold in California

LA Times  

A Mega Millions lottery ticket sold at a Shasta County gas station hit the estimated $1.22-billion jackpot on Friday, officials said. The jackpot is the fifth-largest prize in Mega Millions history and comes at the tail end of a year with unusually few jackpot wins, according to the the lottery. “Congratulations to our $1.22-billion jackpot winner from California,” Joshua Johnston, …

Jackpot for Mega Millions surges past $1B after no numbers match on Christmas Eve drawing
2 weeks, 2 days ago

Jackpot for Mega Millions surges past $1B after no numbers match on Christmas Eve drawing

Deccan Chronicle  

The Mega Millions jackpot has surpassed $1 billion after no ticket matched all six numbers drawn on Christmas Eve. “We know that many people will likely receive tickets to Friday’s drawing as holiday gifts, and what a gift that would turn out to be if you ended up with a ticket worth a $1.15 billion jackpot,” Joshua Johnston, lead director …

Mega Millions jackpot climbs to more than $1 billion for Friday’s drawing
2 weeks, 2 days ago

Mega Millions jackpot climbs to more than $1 billion for Friday’s drawing

LA Times  

The odds of winning Friday’s Mega Millions jackpot are 1 in 302 million, according to lottery organizers. No one scored big on Christmas Eve when the last Mega Millions drawing pushed the jackpot closer to 10 figures, so now it has ballooned to at least $1.15 billion, the fifth-largest prize in the game’s history. The odds of winning the jackpot …

Jackpot for Mega Millions surges past $1B after no numbers match on Christmas Eve drawing
Top News
2 weeks, 2 days ago

Jackpot for Mega Millions surges past $1B after no numbers match on Christmas Eve drawing

Associated Press  

Hang onto those stocking-stuffer lottery tickets. The Mega Millions jackpot has surpassed $1 billion after no ticket matched all six numbers drawn on Christmas Eve. The lottery’s website said the jackpot had reached $1 billion and this particular 7-Eleven convenience store in Chino Hills, near Los Angeles, drew many hopeful winners because of its reputation as a “lucky store,” known …

Jackpot for Mega Millions surges past $1 billion after no numbers match on Christmas Eve drawing
2 weeks, 3 days ago

Jackpot for Mega Millions surges past $1 billion after no numbers match on Christmas Eve drawing

India Today  

On Christmas Eve, the lights shone bright, but nobody won the lottery. Now, the Mega Millions jackpot has grown to an incredible $1.15 billion for Friday's drawing. “We know that many people will likely receive tickets to Friday’s drawing as holiday gifts, and what a gift that would turn out to be if you ended up with a ticket worth …

Mega Millions jackpot soars to an estimated $1.15 billion after no winners on Christmas Eve
2 weeks, 4 days ago

Mega Millions jackpot soars to an estimated $1.15 billion after no winners on Christmas Eve

CNN  

CNN — This holiday season, a lucky Mega Millions player might receive a $1.15 billion belated Christmas gift after no one won Tuesday’s jackpot. “We know that many people will likely receive tickets to Friday’s drawing as holiday gifts, and what a gift that would turn out to be if you ended up with a ticket worth a $1.15 billion …

Mega Million jackpot soars to $825 million just in time for Christmas
3 weeks, 2 days ago

Mega Million jackpot soars to $825 million just in time for Christmas

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A lucky lotto winner …

Massive lottery jackpot is set to expire. Mystery player was part of an incredibly rare draw
1 month, 1 week ago

Massive lottery jackpot is set to expire. Mystery player was part of an incredibly rare draw

LA Times  

A Mega Millions ticket is printed in Indianapolis. In December of last year, they bought one of two winning Mega Millions tickets at a Chevron gas station in Encino, and now they are owed $197.5 million in lottery dough. “We would love to see the rightful winner get their prize money,” Carolyn Becker, spokesperson for the California Lottery, said Wednesday. …

Mega Millions jackpot soars to $514 million—Check winning numbers for November 29 here
1 month, 1 week ago

Mega Millions jackpot soars to $514 million—Check winning numbers for November 29 here

Live Mint  

The Mega Millions jackpot surged to an estimated $514 million for Friday, after no one matched Tuesday’s winning numbers. Winning numbers for November 29 The numbers drawn were 3, 29, 34, 37, 38, with the gold Mega Ball 17 and a 2X Megaplier. This year, three Mega Millions jackpots have been won so far, including $810 million in Texas, $552 …

Mega Millions prize pot jumps to enormous $453 million
1 month, 3 weeks ago

Mega Millions prize pot jumps to enormous $453 million

Daily Mail  

The Mega Millions prize pot has risen to a whopping $453 million. Although participants did not win the grand prize, two Mega Millions players from Texas and Pennsylvania won $1 million after correctly matching all five white ball numbers. Besides the jackpot and $1 million prizes, Mega Millions players could win $2, $4, $10, $200, $500, or $10,000, depending on …

Mega Millions plans to raise ticket price to $5. Are you more likely to win?
3 months ago

Mega Millions plans to raise ticket price to $5. Are you more likely to win?

LA Times  

The Mega Millions jackpot has grown to more than $1 billion. In April, the price of a Mega Millions lottery ticket will jump from $2 to $5, a change that officials say will come with better odds, bigger wins and more money for California public schools. California Gas-station quick pick nets Mega Millions player $810 million A single ticket snared …

Massachusetts Man Wins $1-Million Mega Millions Jackpot After Playing Same Numbers For 20 Years
3 months, 3 weeks ago

Massachusetts Man Wins $1-Million Mega Millions Jackpot After Playing Same Numbers For 20 Years

News 18  

A man from Massachusetts in the US has struck gold with a $1 million Mega Millions win, thanks to a set of numbers he’s played for 20 years. Participation in Mega Millions is available in 45 states, Washington DC and the U.S Virgin Islands, and the draw takes place every Tuesday and Friday at 11 PM ET in Atlanta Georgia. …

$1.3bn Powerball jackpot winner is an immigrant who has cancer
8 months, 1 week ago

$1.3bn Powerball jackpot winner is an immigrant who has cancer

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. “I’ll keep playing.” The winning Powerball ticket was …

No Powerball winner for billion-dollar jackpot, reviving (slim) hopes of fortune
9 months, 1 week ago

No Powerball winner for billion-dollar jackpot, reviving (slim) hopes of fortune

LA Times  

People reflected in a window wait in line to buy tickets for a Powerball drawing at Bluebird Liquor in Hawthorne on Nov. 4, 2022. Americans spent $108 billion on lottery tickets in 2022, with about $25 billion generated in taxes for states, said Victor A. Matheson, an economist at the College of the Holy Cross who’s studied lotteries. “They’re saying …

US lottery player wins $1.13 billion Mega Millions jackpot
9 months, 2 weeks ago

US lottery player wins $1.13 billion Mega Millions jackpot

Hindustan Times  

Mega Millions announced the winner of its estimated $1.13 billion jackpot Tuesday night. Image used for representational purposes only New Jersey lottery player wins Mega Millions jackpot The lottery game said in a news release, “It is the fifth largest jackpot in the history of the game, although because jackpots are always based on actual sales, the official jackpot amount …

Jackpot result: Someone in New Jersey has just won ₹9,166 crore in Mega Millions
9 months, 2 weeks ago

Jackpot result: Someone in New Jersey has just won ₹9,166 crore in Mega Millions

Live Mint  

Jackpot result: An unnamed person in New Jersey has won the $1.1-billion Mega Millions jackpot, as per The Spectator Index. In January 2021, someone in Michigan won $1.050 billion. How to play Mega Millions Mega Millions is a jackpot game in the US. People can play the game after buying a ticket from petrol pumps, local convenience stores and grocery …

$1.1 billion Mega Millions drawing nears, followed by $865 million Powerball prize
9 months, 2 weeks ago

$1.1 billion Mega Millions drawing nears, followed by $865 million Powerball prize

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Next up is an estimated …

Powerball jackpot climbs to $865 million as long winless drought continues
9 months, 2 weeks ago

Powerball jackpot climbs to $865 million as long winless drought continues

Associated Press  

DES MOINES, Iowa — The Powerball jackpot increased to an estimated $865 million after no one won Monday night’s drawing, continuing a winless streak that dates to New Year’s Day. The $865 million prize on the line for the next drawing Wednesday night is for a sole winner who is paid through an annuity, with an initial payment and then …

Is there a winner of the $800 million Powerball jackpot? The numbers have been drawn
9 months, 2 weeks ago

Is there a winner of the $800 million Powerball jackpot? The numbers have been drawn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Nearly $2 billion is up for grabs as Mega Millions and Powerball jackpots soar
9 months, 2 weeks ago

Nearly $2 billion is up for grabs as Mega Millions and Powerball jackpots soar

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. With an estimated $1.1 billion …

Mega Millions jackpot rises to $1.1 billion after another drawing without a big winner
9 months, 2 weeks ago

Mega Millions jackpot rises to $1.1 billion after another drawing without a big winner

Associated Press  

DES MOINES, Iowa — The Mega Millions jackpot climbed to an estimated $1.1 billion after no one matched the game’s six numbers Friday night, continuing a stretch of more than three months without a big winner. No one has won the game’s jackpot since Dec. 8, a string of 30 consecutive drawings without anyone taking home the top prize. Winners …

Drawing nears for $997M Mega Millions jackpot
9 months, 2 weeks ago

Drawing nears for $997M Mega Millions jackpot

The Independent  

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Mega Millions jackpot reaches $977 million after no one wins Tuesday’s drawing
9 months, 3 weeks ago

Mega Millions jackpot reaches $977 million after no one wins Tuesday’s drawing

Associated Press  

The Mega Millions jackpot has reached $977 million for Friday night’s drawing after no tickets matched all six numbers drawn on Tuesday night. It’s just the sixth time in the game’s nearly 22-year history that the jackpot has reached this level; only five jackpots exceeding $1 billion have been higher. Mega Millions is the only lottery game that has awarded …

$842 million Powerball ticket sold in Michigan, first time the game has been won on New Year’s Day
1 year ago

$842 million Powerball ticket sold in Michigan, first time the game has been won on New Year’s Day

Associated Press  

JOHNSTON, Iowa — Someone in Michigan won an $842.4 million Powerball jackpot on the first day of 2024, the first time it has been won on New Year’s Day since the game’s start in 1992. Final ticket sales pushed the jackpot beyond its earlier estimate of $810 million to $842.4 million at the time of the drawing, making it the …

Winner of $1.6BN Mega Millions jackpot that's largest in history tries to keep identity SECRET by setting up Delaware LLC: Is believed to be Florida doctor who's still working
1 year ago

Winner of $1.6BN Mega Millions jackpot that's largest in history tries to keep identity SECRET by setting up Delaware LLC: Is believed to be Florida doctor who's still working

Daily Mail  

The lucky winner of a $1.6 billion Mega Millions jackpot dodged Florida's law on identifying lottery winners by setting up a Delaware LLC - but is believed to be a doctor who's still working. The jackpot winner came forward to claim their prize at lottery headquarters on September 25 after scooping up the whopping jackpot over a month prior. The …

$1.7billion jackpot! What will you buy with this money? Here's what other jackpot winners did
1 year, 2 months ago

$1.7billion jackpot! What will you buy with this money? Here's what other jackpot winners did

Hindustan Times  

The excitement of a massive lottery jackpot win has once again swept across the United States, as a lucky lottery player in California has claimed the second-largest jackpot in Powerball and US lottery history. In November 2022, a lucky individual claimed a historic $2.04 billion Powerball jackpot, setting the stage for yet another astonishing win in the same state. Plus, …

Powerball's Oct. 9 drawing grows to $1.55billion - now the fourth-largest jackpot of all time
1 year, 3 months ago

Powerball's Oct. 9 drawing grows to $1.55billion - now the fourth-largest jackpot of all time

Daily Mail  

This colossal amount has become the fourth-highest US lottery jackpot in history The Powerball jackpot has swelled to $1.55billion after nobody took home the big prize Saturday night. The growing amount has now become the fourth-largest US lottery jackpot of all time after Saturday's pull marked the 34th consecutive drawing without a winner. The growing amount of $1.55billion has now …

How much money do BILLION dollar lottery winners actually take home after taxes?
1 year, 3 months ago

How much money do BILLION dollar lottery winners actually take home after taxes?

Daily Mail  

With the next Powerball lottery drawing scheduled for Wednesday night at a $1.2billion grand prize, many may wonder what winners actually take home after taxes. With the next Powerball lottery drawing scheduled for Wednesday night at a $1.2billion grand prize, many may wonder what winners actually take home after taxes The Internal Revenue Service currently taxes income above $578,125 for …

Latest Powerball drawing has NO winners, meaning jackpot climbs to eye-watering $1.2 BILLION
1 year, 3 months ago

Latest Powerball drawing has NO winners, meaning jackpot climbs to eye-watering $1.2 BILLION

Daily Mail  

The numbers were drawn Monday night for a $1.04 billion Powerball jackpot - but no-one won, meaning the prize pot has climbed to $1.2 billion. It took several hours to determine that no one had scooped the eye-watering prize, meaning it climbs by another $160 million ahead of Saturday's drawing. The numbers were drawn Monday night for a $1.04 billion …

Powerball jackpot rises to $1.2 billion after another drawing without a big winner
1 year, 3 months ago

Powerball jackpot rises to $1.2 billion after another drawing without a big winner

Associated Press  

FORT LAUDERDALE, Florida — The Powerball jackpot climbed to an estimated $1.2 billion after no players hit it big Monday night. The jackpot for the next drawing Wednesday night will be among the largest lottery prizes of all time, behind earlier prizes in the Powerball and Mega Millions games. The prize has grown so massive because there have been 33 …

Mega Millions winner in Florida claims $1.6 billion jackpot from August
1 year, 3 months ago

Mega Millions winner in Florida claims $1.6 billion jackpot from August

The Independent  

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Winner of last month's $1.6 billion Mega Millions...
1 year, 3 months ago

Winner of last month's $1.6 billion Mega Millions...

Daily Mail  

A lucky Mega Millions jackpot winner who scooped up $1.6billion after buying the tickets in a Florida supermarket has finally come forward to claim the prize. The winner, whose name remains anonymous for 90 days after claiming the prize on September 25, bagged the third-largest prize in US history and one of five Mega Million prizes over a billion. They …

Monday night's $785M Powerball jackpot is 9th largest lottery prize. Odds of winning are miserable
1 year, 3 months ago

Monday night's $785M Powerball jackpot is 9th largest lottery prize. Odds of winning are miserable

The Independent  

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Florida's newest billionaire has STILL not claimed their $1.58 billion Mega Millions jackpot - as Publix store shoppers where winning tickets are sold say they're 'gutted' by near miss
1 year, 5 months ago

Florida's newest billionaire has STILL not claimed their $1.58 billion Mega Millions jackpot - as Publix store shoppers where winning tickets are sold say they're 'gutted' by near miss

Daily Mail  

The lucky Florida resident who has won $1.58 billion in the Mega Millions jackpot has yet to come forward, officials said on Wednesday. The mega prize, the third largest in US history, must be claimed in person at Florida Lottery headquarters in Tallahassee within 180 days of the draw. The Publix supermarket in Neptune Beach, Florida that sold the winning …

Lottery Ticket Sold In Florida's Supermarket Gets 3rd Largest Jackpot In USA
1 year, 5 months ago

Lottery Ticket Sold In Florida's Supermarket Gets 3rd Largest Jackpot In USA

News 18  

Winning a jackpot is all about luck. A lottery ticket sold in Florida has won a $1.58 billion prize at Mega Millions jackpot, reported Forbes. The publication also mentioned that it is on the winner whether they decide to take a lump sum amount together or annually for 30 years, which will be roughly in half to $783.3 million. With …

Florida Mega Millions ticket scoops $1.58B jackpot, tax bite looms large
1 year, 5 months ago

Florida Mega Millions ticket scoops $1.58B jackpot, tax bite looms large

Hindustan Times  

A ticket sold in Florida has clinched a $1.58 billion Mega Millions jackpot, marking the second-largest individual lottery win in U.S. history. Mega Millions declared that the winning ticket sold in Florida was the sole one across the nation that perfectly matched all six numbers in Tuesday's draw. The fortunate ticket holder now faces an enticing choice: a stretched-out $1.58 …

What to do if you win the lottery, according to experts
1 year, 5 months ago

What to do if you win the lottery, according to experts

The Independent  

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Mega Millions players will have another chance on Friday night to win a $1.25 billion jackpot
1 year, 5 months ago

Mega Millions players will have another chance on Friday night to win a $1.25 billion jackpot

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Lottery players will have another …

How interest rates are boosting lottery jackpots
1 year, 5 months ago

How interest rates are boosting lottery jackpots

Associated Press  

DES MOINES, Iowa — Another day, another billion dollar lottery jackpot. It’s a huge sum of money, but such giant jackpots have become far more common, with five prizes topping $1 billion since 2021 — and one jackpot reaching $2.04 billion in 2022. Nearly all jackpot winners opt for a lump sum payout, which for Tuesday night’s drawing would be …

Ticket-holder claims £11.6m Lotto jackpot
1 year, 5 months ago

Ticket-holder claims £11.6m Lotto jackpot

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy One ticket-holder has claimed the £11.6 million “must be won” …

Mega Millions jackpot grows to $820 million with a possible cash payout of $422 million
1 year, 5 months ago

Mega Millions jackpot grows to $820 million with a possible cash payout of $422 million

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy No winner for the Mega …

What are the 10 largest US lottery jackpots ever won?
1 year, 5 months ago

What are the 10 largest US lottery jackpots ever won?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. $1.35 billion, Mega Millions, Jan. 13, 2023 5. $1.337 …

Jackpot worth ₹8,206 crore goes to lucky winner
1 year, 5 months ago

Jackpot worth ₹8,206 crore goes to lucky winner

Live Mint  

A staggering $1-billion Powerball jackpot was won in a drawing held on July 19, making it one of the biggest ever in the game's history. The winning ticket was sold at Las Palmitas Mini Market in downtown Los Angeles, as reported by the California Lottery's website. The odds of winning the Powerball jackpot, according to the Multi-State Lottery Association, stand …

How hard is it to win the lottery? Odds to keep in mind as Powerball and Mega Millions jackpots soar
1 year, 5 months ago

How hard is it to win the lottery? Odds to keep in mind as Powerball and Mega Millions jackpots soar

Associated Press  

NEW YORK — There’s no shaking it. Ahead of Wednesday night’s drawing, the estimated jackpot for Powerball reached $1 billion — marking the seventh largest prize across U.S. lottery history. Even if you bought a lottery ticket for every drawing over 80 years — two times a week for Mega Millions and three times a week for Powerball — you …

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