The Mega Millions jackpot prize has increased to $792 million ahead of Friday night’s drawing, the sixth-highest total in history.
However, the winnings you take home will depend on how your state taxes them and your payment choices.
To win the jackpot, you must match the numbers on all five white balls and the golden mega ball.
If you win, you will receive a 30-year annuity of the full jackpot amount, or an upfront cash lump sum equal to approximately 48% of the jackpot. Although a lump sum is much smaller than an annuity, winners often choose this option because they can receive more money immediately.
Then there are taxes to consider. Prizes are automatically subject to 24% federal withholding tax and are considered income by the Internal Revenue Service. However, the jackpot amount is likely to trigger the highest tax rate, so you’ll almost certainly end up paying a total of 37% on almost any winnings.
In most states, winnings are also taxed, ranging from 2.5% to 10.9%. There are eight states that do not impose income taxes on lottery winnings. California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
Here’s a look at the actual take-home payout in each state and Washington, DC, with a 1 in 302.5 million chance of winning the jackpot. Both lump sum and annuity award amounts are calculated by usamega.com.
arizona
- lump sum: $231,030,812
- pension: $480,414,360
arkansas
- lump sum: $223,776,612
- pension: $465,366,360
California
- lump sum: $240,575,812
- pension: $500,214,360
colorado
- lump sum: $223,776,612
- pension: $465,366,360
connecticut
- lump sum: $213,887,992
- pension: $444,853,560
Delaware
- lump sum: $215,377,012
- pension: $447,942,360
florida
- lump sum: $240,575,812
- pension: $500,214,360
georgia
- lump sum: $219,614,992
- pension: $456,733,560
idaho
- lump sum: $218,431,412
- pension: $454,278,360
illinois
- lump sum: $221,676,712
- pension: $461,010,360
Indiana
- lump sum: $228,930,912
- pension: $476,058,360
iowa
- lump sum: $218,813,212
- pension: $455,070,360
Kansas
- lump sum: $218,813,212
- pension: $455,070,360
kentucky
- lump sum: $225,303,812
- pension: $468,534,360
louisiana
- lump sum: $222,440,312
- pension: $462,594,360
maine
- lump sum: $213,277,112
- pension: $443,586,360
maryland
- lump sum: $206,404,712
- pension: $429,330,360
Massachusetts
- lump sum: $206,213,812
- pension: $428,934,360
michigan
- lump sum: $224,349,312
- pension: $466,554,360
minnesota
- lump sum: $202,968,512
- pension: $422,202,360
mississippi
- lump sum: $222,631,212
- pension: 462,990,360 dollars
missouri
- lump sum: $221,676,712
- pension: $461,010,360
montana
- lump sum: $218,049,612
- pension: $453,486,360
nebraska
- lump sum: $218,278,692
- pension: $453,961,560
new hampshire
- lump sum: $240,575,812
- pension: $500,214,360
new jersey
- lump sum: $199,532,312
- pension: $415,074,360
new mexico
- lump sum: $218,049,612
- pension: $453,486,360
new york
- lump sum: $198,959,612
- pension: $413,886,360
north carolina
- lump sum: $223,394,812
- pension: $464,574,360
north dakota
- lump sum: $229,503,612
- pension: $477,246,360
Ohio
- lump sum: $227,212,812
- pension: $472,494,360
oklahoma
- lump sum: $222,440,31
- pension: $462,594,360
Oregon
- lump sum: $202,777,612
- pension: $421,806,360
pennsylvania
- lump sum: $228,854,552
- pension: $475,899,960
rhode island
- lump sum: $217,705,992
- pension: $452,773,560
south carolina
- lump sum: $216,140,612
- pension: $449,526,360
south dakota
- lump sum: $240,575,812
- pension: $500,214,360
tennessee
- lump sum: $240,575,812
- pension: $500,214,360
texas
- lump sum: $240,575,812
- pension: $500,214,360
vermont state
- lump sum: $207,168,312
- pension: $430,914,360
Virginia
- lump sum: $218,622,312
- pension: $454,674,360
Washington
- lump sum: $240,575,812
- pension: $500,214,360
Washington DC
- lump sum: $199,532,312
- pension: $415,074,360
west virginia
- lump sum: $215,758,812
- pension: $448,734,360
wisconsin
- lump sum: $211,368,112
- pension: $439,626,360
