![]() In a statement on Saturday, Mega Millions also noted that 26 tickets earned second-tier prizes worth either $2 million or $1 million apiece, and a total of 14,391,740 tickets won some amount of money across nine different prize tiers Friday night. That means the winner should expect to owe a minimum of almost $226 million in taxes, lowering the take-home amount to roughly $554.5 million - still a potentially life-changing sum of money. The winner will likely also owe state income tax: If the winner lives in Illinois, the winnings will be considered taxable income at the state's 4.95% rate, and they may owe even more if they live in a state with a higher income tax rate. I collect market prices for the lottery tickets and show that investors were. ![]() ![]() If the winner chooses the more popular lump sum option, which "Shark Tank" investor Kevin O'Leary recommends, he or she will have to account for a mandatory 24% federal tax withholding. In the 18th century Britain frequently issued lottery loans, selling bonds. The largest jackpot of any US lottery game was 1.586 billion a Powerball prize from January 13, 2016, shared by winners in California, Florida and Tennessee. The jackpot ranks as the third-highest lottery prize in American history, and its winner - who likely paid around $2 for the ticket - stands to either gain $780.5 million as a cash lump sum or receive payments in an annuity over the next 30 years. Buy tickets online and find winning lottery numbers. Chicago recorded more than two dozen people getting shot on the first weekend of October, including at least one three-year-old who was fatally shot while in the car. "So, I encourage everybody to check your ticket." With Illinois Lottery, Anythings Possible with games like Mega Millions, Powerball, Lotto and Lucky Day Lotto. By using our site, you consent to the use of cookies in. a computer you must not own a working computer at home, and you must have a child in K-12 education in the Chicago, Northern Illinois or St. We use cookies to personalize content and ads, and to analyze our traffic. The results are updated instantaneously and we also offer a range of tools and lucky numbers. ![]() Ticket limits and prices displayed are at the sole discretion of the show and are subject to change without notice. Other figures show annual lottery ticket revenues throughout the nations forty-one state-operated lotteries total more than 40 billion, which averages. All Lotto is the best place to find lottery results from every US state, including Mega Millions and Powerball draws. A 5.00 handling fee will be added to the price of each ticket at the time of checkout. All lottery prices include a 3.50 facility fee. "We don't know whether or not they even know that they won a prize," Mays said. Limit 1 entry per person, per performance. ![]()
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