2023-08-10 01:31:54
The American lottery “Mega Millions” hit a jackpot of $1.58 billion (regarding 230 billion yen) on the 9th. It is the second largest single prize in the history of the United States, but since taxes and other items are deducted from the prize money, the amount remaining in the hands of the winner will be significantly reduced.
Mega Millions is a 6-number lottery. As a result of the lottery held on the night of the 8th, one lottery ticket sold in Florida won all six numbers and won the lottery, according to the announcement of the operating organization.
Winners can choose to receive the full $1.58 billion in annual installments over 30 years or a lump sum of $783.3 million. Among past winners, more people chose to receive the prizes in bulk.
At least 24% will be deducted for federal tax if received in bulk. The tax rate will increase to a maximum of 37% depending on taxable income. Therefore, what remains at hand is 595.3 million to 493.5 million dollars (regarding 85 billion to 71 billion yen).
If you choose to pay in instalments, regarding $52.6 million in annual payments will be subject to 37% federal tax, and your take-home pay will be regarding $33.1 million. Florida is one of 14 states that does not impose a state tax on lottery winnings.
This year’s prize is the largest in Mega Millions history, surpassing the record of $1.537 billion set in 2018. It’s the third-largest US lottery overall, with Powerball winning last year’s $2.04 billion (solely won by a California buyer) and second-placed Powerball in 201615. $86 million (divided among three winners in California, Florida and Tennessee).
The odds of winning the Mega Millions this time were 1 in 302.6 million. On the other hand, the probability of winning the Powerball is slightly higher, 1 in 292.2 million. Over the past decade, both lotteries have changed how they operate, inflating the prizes instead of lowering the odds of winning.
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