Mega Millions Jackpot Hits $743 Million – What the Winner Could Take Home After Taxes
The Mega Millions jackpot has surged to $743 million, making it the largest lottery prize of 2026 so far, after no ticket matched all six numbers in the Tuesday night drawing. The winner can choose between a 30-year annuity of $743 million or a lump sum of $323.4 million. After mandatory 24% federal withholding, the cash payout drops to about $245.8 million, and with a potential 37% federal marginal tax rate, it could fall further to around $203.7 million. State taxes vary, with New York taxing at 10.9% while Texas, Florida, and California have no state tax on lottery winnings. The odds of winning are 1 in 290.4 million. The next drawing is Friday night, while the Powerball jackpot has also risen to $567 million with its next drawing on Wednesday.
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Mega Millions Jackpot Hits $743 Million – What the Winner Could Take Home After Taxes
The Mega Millions jackpot has surged to $743 million, making it the largest lottery prize of 2026 so far, after no ticket matched all six numbers in the Tuesday night drawing. The winner can choose between a 30-year annuity of $743 million or a lump sum of $323.4 million. After mandatory 24% federal withholding, the cash payout drops to about $245.8 million, and with a potential 37% federal marginal tax rate, it could fall further to around $203.7 million. State taxes vary, with New York taxing at 10.9% while Texas, Florida, and California have no state tax on lottery winnings. The odds of winning are 1 in 290.4 million. The next drawing is Friday night, while the Powerball jackpot has also risen to $567 million with its next drawing on Wednesday.