After taxes, here’s how much the winner of the $1.35 billion Mega Millions jackpot will receive.
Introduction
The $1.35 billion Mega Millions jackpot winner has finally come forward to claim their prize. A lucky ticket sold in Lebanon, Maine, won the jackpot, the fourth largest in U.S. history. This article’ll examine the winner and how much they’ll get after taxes.
Winner Comes Forward
According to lottery officials, the $1.35 billion Mega Millions jackpot winner has remained anonymous. The winner opted for the cash option, which means they will receive a one-time, lump-sum payment of $723,564,144 before taxes. While the winner’s identity is unknown, we do know that the winning ticket was sold at a convenience store in Lebanon, Maine.
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Taxes on Lottery Winnings
Of course, the winner won’t get to keep the entire $723 million. Lottery winnings are subject to federal and state taxes, which can significantly reduce the money the winner receives. According to the Maine State Lottery, the winner will owe federal taxes of 37% on their winnings and state taxes of 5.8%. This means the winner will receive approximately $443 million net payout.
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What Will the Winner Do with the Money?
While we don’t know the winner, we can only imagine what they might do with their newfound wealth. Some lottery winners choose to invest their money, while others use it to travel or buy a new home. Others choose to donate a portion of their winnings to charity. Whatever the winner decides to do, one thing is sure: their life will never be the same.
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Conclusion
The $1.35 billion Mega Millions jackpot winner has finally come forward to claim their prize. While we don’t know who the winner is, we do know that they’ll receive a net payout of approximately $443 million after taxes. As always, lottery winnings are subject to federal and state taxes, so the amount the winner receives will be less than the advertised jackpot. Nevertheless, the winner’s life is sure to be changed forever by this massive windfall.
