Winner Of $1.28 Billion Lottery Gets $433.7 Million After Tax

Someone in Illinois bought the winning ticket, and if he or she does like most winners, they will take the lump sum, not the annuity. The $1.28 billion prize, which is the second-largest jackpot in Mega Millions lottery history, can be claimed in a lump sum or over time. The 1.28 billion is only if … Read more

Win $1 Billion Mega Millions Jackpot, Pay Extra 13% Tax, Beware Claims

The Mega Millions jackpot has risen to a $1.02 billion, up from $810 million. With eye-popping numbers, it’s easy to get lottery mania. Winning would be great, but taxes are big too. Lottery winnings are taxed, with the IRS taking taxes of up to 37%. Curiously, though, only 24% is withheld and sent directly to … Read more