Mega Millions Jackpot: $965 Million Prize Details
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Mega Millions jackpot Climbs to $965 Million
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No winning tickets were drawn in the Tuesday, November 12, 2024, Mega Millions lottery, pushing the jackpot to $965 million, the second-largest lottery prize of the year. The cash option for the jackpot is $445.4 million.
jackpot Details and Previous Drawings
The mega Millions jackpot has reached $965 million after Tuesday’s drawing yielded no grand prize winner. The winning numbers were 10, 19, 25, 31, 63, and the Mega Ball was 16. The jackpot has been growing since the last win on October 17, 2024, when a ticket sold in Florida matched all six numbers for a $196 million prize Mega Millions Winning Numbers History.
While the advertised jackpot is $965 million, the actual amount a winner receives will be significantly less due to taxes. A winner who chooses the cash option would recieve approximately $445.4 million before federal and state taxes are applied.
Tax implications for Winners
The federal marginal tax rate of 37% will reduce the cash value of the jackpot to approximately $275.7 million. For example,a $445.4 million cash prize would fall to $275.7 million after the 37% federal marginal rate is applied.
State taxes vary considerably. New York taxes lottery winnings at 10.9%, while states like Texas, Florida, and California do not impose a state tax on lottery winnings Kiplinger: Lottery Taxes by State.
| State | Lottery Tax Rate |
|---|---|
| New York | 10.9% |
| Texas | 0% |
| florida | 0% |
| California | 0% |
what to Watch For
The next Mega Millions drawing is scheduled for Friday night, November 15, 2024.The Powerball jackpot currently stands at $512 million and will be drawn on Wednesday night, November 13, 2024 Powerball Official Website.