Winners can also choose the annuity option, which provides one initial payment and annual graduated installments over 29 years. Of course, some ticket holders can win a smaller amount, as noted above. And because multiple people can hold the same winning numbers, the final amount could be split several ways among the winners. Do I have to cash in my ticket at the same store I bought it? If you bought your ticket in Massachusetts, you will have to cash your winnings in Massachusetts.
How long do I have to claim my winnings? States have different rules, so depending on where you purchased the ticket, you have from days to a year. In Massachusetts, winners have one year to claim their prize. Lottery officials can tell when someone has won and their location, but the person will still need to actually show their ticket and claim their prize. Can I keep my name secret if I win? If you bought your ticket in Massachusetts, you can effectively hide your identity from the public by creating a trust or other legal entity that can claim the prize.
The judge ruled that her identity will remain off-limits to the prying eyes of reporters who file public records requests, but her city or town of residence will be disclosed. Any winnings you receive from Mega Millions will be subject to federal income taxes, as well as any applicable state income taxes.
Several of the participating states — Wyoming, Washington, Texas, South Dakota, and Florida — don't levy income taxes on their residents. Tennessee and New Hampshire only impose tax on income from dividends and interest. If you've just matched all the numbers and are already looking at yachts and mansions, then it might be a good idea to do some math and see how much you have actually won, as the advertised jackpot does not account for state and federal taxes.
Ever since Mega Millions rebranded in , there have been some incredible jackpots won by players from across the U. Below are the top 10 Mega Millions winners of all time. If you want to be in with a chance of winning a multi-million dollar jackpot, pick your numbers for the next Mega Millions draw at the Tickets page. Mega Millions is one of the biggest lotteries in the United States, with jackpots often running into the hundreds of millions of dollars.
Read on to find out where Mega Millions started, and how it has turned into one of the most exciting lotteries in the world. Choose your Mega Millions numbers here to be in with a chance of becoming the next winner. Mega Millions Menu. You win the jackpot by matching all six winning numbers in a drawing. Until further notice, the starting jackpot will vary based on sales and will be announced before each drawing. All other Mega Millions states set the 2nd through 9th prizes at pre-determined amounts.
The states that allow you to collect your winnings anonymously are Maryland, Ohio, Kansas, Delaware, and North Dakota. If you win the jackpot, have the choice of two payout options: a lump-sum payout or an annuity. The annuity will be paid out over 29 years, receiving 5 percent more each year than the year before. If the winner passes away before the annuity has been paid out, his or her heirs will continue to receive the payments. If the winner takes the lump-sum payout, he or she will receive the entire jackpot at once, and will also be responsible for taxes on the entire amount at once.
People who take the annuity option pay taxes on their winnings each year. That only means that the tickets are not sold in those states. Residents can purchase Mega Millions tickets if they travel to states where they are sold. Actively scan device characteristics for identification. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile.
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