What if you win Mega Millions jackpot

Written by Sandy Amaze | 12-15-2022 Image Credit : Google/Social Media/iStock Author page: https://gigsgiveaways.com/author

Find out what happens when you win the Mega Millions Jackpot.

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In lump sum option, you'll get your winnings in one big payment with responsible for paying taxes

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You can choose to have your attorney handle the taxes for you.

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In annuity option, your payouts will start coming in over 29 years

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The federal government will withhold 37% of your winnings for federal taxes before giving it to you.

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On top of this deduction, state and local taxes may also apply depending on where in the U.S. you reside.

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California has some of the highest rates.

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You'll have to pay something like 0 to 8% of your prize or $10,000 whichever is greater.

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You will need to file your taxes – whether they're federal or state taxes depends on where in the United States you live.

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