Mega Millions jackpot reaches $792 million—here’s the take-home amount

[Pelican Press 0]

Mega Millions jackpot reaches $792 million—here’s the take-home amount

Mega Millions jackpot prize

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ahead of Friday night’s draw — its sixth highest total ever.

However, the winnings you’d take home will vary depending on how they’re taxed in your state, as well as your choice of payout.

To

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, you’ll need to match numbers with all five white ******, plus the gold Mega Ball.

If you win, you can take a 30-year annuity for the full jackpot amount, or an upfront cash lump sum that’s worth about 48% of the jackpot. While the lump sum is much less than the annuity, winners often choose that option since they receive more money right away.

Then there are taxes to consider. An automatic 24% federal withholding tax is applied to your winnings, which are considered income by the Internal Revenue Service. But you’ll almost certainly pay a total of 37% on almost all of the winnings since the jackpot amount will likely trigger

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.

Most states charge taxes on winnings, too, which range from 2.5% to 10.9%. Eight states don’t charge any income tax on lottery winnings: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

Here’s a look at the actual take-home winnings in every state and Washington, D.C., if you happen to beat the 1 in 302.5 million odds of winning the jackpot. The prize amounts for both lump sum and annuity amounts are calculated by

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.

Arizona

• Lump sum: $231,030,812
• Annuity: $480,414,360

Arkansas

• Lump sum: $223,776,612
• Annuity: $465,366,360

California

• Lump sum: $240,575,812
• Annuity: $500,214,360

Colorado

• Lump sum: $223,776,612
• Annuity: $465,366,360

Connecticut

• Lump sum: $213,887,992
• Annuity: $444,853,560

Delaware

• Lump sum: $215,377,012
• Annuity: $447,942,360

Florida

• Lump sum: $240,575,812
• Annuity: $500,214,360

Georgia

• Lump sum: $219,614,992
• Annuity: $456,733,560

Idaho

• Lump sum: $218,431,412
• Annuity: $454,278,360

Illinois

• Lump sum: $221,676,712
• Annuity: $461,010,360

Indiana

• Lump sum: $228,930,912
• Annuity: $476,058,360

Iowa

• Lump sum: $218,813,212
• Annuity: $455,070,360

Kansas

• Lump sum: $218,813,212
• Annuity: $455,070,360

Kentucky

• Lump sum: $225,303,812
• Annuity: $468,534,360

Louisiana

• Lump sum: $222,440,312
• Annuity: $462,594,360

Maine

• Lump sum: $213,277,112
• Annuity: $443,586,360

Maryland

• Lump sum: $206,404,712
• Annuity: $429,330,360

Massachusetts

• Lump sum: $206,213,812
• Annuity: $428,934,360

Michigan

• Lump sum: $224,349,312
• Annuity: $466,554,360

Minnesota

• Lump sum: $202,968,512
• Annuity: $422,202,360

Mississippi

• Lump sum: $222,631,212
• Annuity: $462,990,360

Missouri

• Lump sum: $221,676,712
• Annuity: $461,010,360

Montana

• Lump sum: $218,049,612
• Annuity: $453,486,360

Nebraska

• Lump sum: $218,278,692
• Annuity: $453,961,560

New Hampshire

• Lump sum: $240,575,812
• Annuity: $500,214,360

New Jersey

• Lump sum: $199,532,312
• Annuity: $415,074,360

New Mexico

• Lump sum: $218,049,612
• Annuity: $453,486,360

New York

• Lump sum: $198,959,612
• Annuity: $413,886,360

North Carolina

• Lump sum: $223,394,812
• Annuity: $464,574,360

North Dakota

• Lump sum: $229,503,612
• Annuity: $477,246,360

Ohio

• Lump sum: $227,212,812
• Annuity: $472,494,360

Oklahoma

• Lump sum: $222,440,31
• Annuity: $462,594,360

Oregon

• Lump sum: $202,777,612
• Annuity: $421,806,360

Pennsylvania

• Lump sum: $228,854,552
• Annuity: $475,899,960

Rhode Island

• Lump sum: $217,705,992
• Annuity: $452,773,560

South Carolina

• Lump sum: $216,140,612
• Annuity: $449,526,360

South Dakota

• Lump sum: $240,575,812
• Annuity: $500,214,360

Tennessee

• Lump sum: $240,575,812
• Annuity: $500,214,360

Texas

• Lump sum: $240,575,812
• Annuity: $500,214,360

Vermont

• Lump sum: $207,168,312
• Annuity: $430,914,360

Virginia

• Lump sum: $218,622,312
• Annuity: $454,674,360

Washington

• Lump sum: $240,575,812
• Annuity: $500,214,360

Washington, D.C.

• Lump sum: $199,532,312
• Annuity: $415,074,360

West Virginia

• Lump sum: $215,758,812
• Annuity: $448,734,360

Wisconsin

• Lump sum: $211,368,112
• Annuity: $439,626,360

Wyoming

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Washington
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