Any superfan of HGTV can let you know concerning the hit actuality sequence, “My Lottery Dream Dwelling.” Lottery winners go on extravagant house-hunting journeys to search out their subsequent luxurious abode.
May that be you?
Perhaps. Since this week’s Mega Tens of millions jackpot is rising once more. With an estimated $800 million up for grabs for the September 10 drawing, ticketholders are in for an thrilling draw.
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How a lot will the payout be, when will it happen and the way a lot tax do you pay in your Mega jackpot? Learn on.
Mega Tens of millions drawing days
Mega Tens of millions attracts on Tuesday and Friday at 11:00 pm EDT. So, the following massive drawing is Tuesday, September 10.
You’ll be able to watch the drawing in one of many following methods:
How a lot does a Mega Tens of millions ticket price?
One Mega Tens of millions ticket prices $2.00. Tickets can be found in most U.S. states and the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
States that don’t take part in Mega Tens of millions are Alabama, Alaska, Hawaii, Nevada, and Utah.
Can you purchase Mega Tens of millions on-line?
You should buy Mega Tens of millions on-line however provided that you reside in a taking part state.
States that provide Mega Tens of millions on-line embrace:
- Connecticut, Georgia, Illinois, Kentucky
- Michigan, New Hampshire, North Carolina
- North Dakota, Pennsylvania, Virginia
The District of Columbia additionally participates in on-line play.
Nonetheless, to play Mega Tens of millions in any of the above states or territories, you will need to first register with the lotteries in these jurisdictions.
How late can you purchase a Mega Tens of millions ticket?
Most states cease promoting Mega Tens of millions tickets about an hour earlier than the drawing. Nonetheless, some cease as early as 4 hours earlier than the occasion.
Remember to examine your native jurisdiction for a exact time.
Mega Tens of millions annuity
You might have two choices to assert your winnings. You’ll be able to both settle for a lump sum cost or yearly annuity installments.
However keep in mind: lottery winners should pay federal taxes (somewhat extra on that under).
Whereas the lump sum is extra rapid, the annuity possibility will let you obtain a payout every year over a while. Based on the lottery’s web site, the Mega Tens of millions annuity is “one rapid cost adopted by 29 annual funds. Every cost is 5% larger than the earlier one.”
So, the instance lottery officers present is that if a jackpot is $100 million, the preliminary cost could be round 1.5 million, with annual funds rising to round $6.2 million.
How a lot is Mega Tens of millions?
If nobody wins for some time the Mega Tens of millions prize racks up. The estimated Jackpot for the following drawing is $800 million. (That is an approximate $401 million money payout).
Earlier this yr, the Mega Tens of millions paid out $1.13 billion to somebody in New Jersey, after which a winner took house $552 million in jackpot in Illinois.
However as talked about, it’s essential to notice that, along with federal taxes, you might have to pay some native state taxes as nicely. (Although some states received’t tax your lottery winnings).
In fact, some can’t ignore the attract. Who wouldn’t wish to be a millionaire? Regardless of the percentages — about 292.2 million to at least one based on lottery officers — somebody must be that one.
May or not it’s you?