August 10, 2022
3rd largest US lottery jackpot ever

One lucky lottery ticket-buyer in Illinois could soon be a billionaire, following Friday night’s $1.337 billion Mega Millions lottery drawing.

According to lottery officials, the winning numbers – 13, 36, 45, 57 and 67 and a gold mega ball 14 – match same ticket Sold at a Speedway gas station in Des Plaines, Illinois, about 17 miles northwest of Chicago. The winner has yet to claim the prize, Harold Mays, director of the Illinois Department of Lotteries, said in a news conference Saturday.

“We don’t know that they even know they won an award,” Mace said. “So, I encourage everyone to check their tickets.”

The jackpot ranks as the third-largest lottery prize in American history, and its winner – who paid about $2 for the ticket – receives $780.5 million either as a cash lump sum or over the next 30 years. Receives payment in annuity.

If the winner chooses the more popular lump sum option, which “Shark Tank” investor Kevin O’Leary recommends, he or she will essentially be responsible for a 24% federal tax withholding. The winner must also pay state income tax: If the winner lives in Illinois, the winnings will be considered taxable income at the state’s 4.95% rate, and they may owe even more if they live in a state with a higher income tax rate. .

That means the winner should expect to pay at least $226 million in taxes, reducing the take-home amount to approximately $554.5 million—a yet potentially life-changing amount.

one in Statement On Saturday, Mega Millions also noted that 26 tickets earned second tier prizes worth $2 million, or $1 million, and a total of 14,391,740 tickets won some amount in nine different prize tiers Friday night.

If you’re one of the lucky winners—especially if you’re the mystic who hit the jackpot—experts say you should take immediate steps to protect your ticket and privacy.

“Privacy is key,” Emily Irwin, senior director of advice at Wells Fargo Wealth and Investment Management, told CNBC on Friday. “It provides both you and your family with protection from scammers or other individuals who may start hunting you.”

You should then hire a team of professionals to assist you, including an experienced lawyer, a financial advisor, a tax advisor and an insurance expert, as CNBC recently noted.

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Don’t miss: The 10 Best Places to Win the $1.34 Billion Mega Millions Jackpot

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