Better luck next time: $540M jackpot ticket sold in Indiana

Author:
Updated:
Original:

Better luck next time. The winning $540 million Mega Millions jackpot ticket wasn't sold in Minnesota. It was sold in Indiana.

USA Today says it was sold at a Speedway station in Cambridge City. But as of Saturday afternoon, the new millionaire who beat the 1-in-258,890,850 odds has not stepped up to claim the prize.

We're not sure what they're waiting for. This is only the third largest in the history of the Mega Millions game, CBS reports. And Today says it's the seventh largest jackpot in U.S. history.

https://twitter.com/MegaMillionsUS/status/751627852257255424

But the winner doesn't just get to exchange his or her ticket for $540 million in cash.

In fact, if the winner wants all the money right away, he or she will (only) be able to collect $380 million, minus some for taxes.

The best bet would probably be to accept payments over the course of 30 years. But taxes still cut down the jackpot.

CNBC says the winner would be subject to the highest federal tax rate which is almost 40 percent. The government also withholds about 25 percent of that prize if the winner has a social security number; if not, the government withholds more.

So after all of that, the winner is left with about $229.5 million, the source says. That's still enough to buy a couple yachts, an island, a private jet, and then some.

Next Up

Screen Shot 2021-06-17 at 1.02.33 PM

Flights to resume between Minneapolis-St. Paul and Iceland

Icelandair is bringing back its service, which was nixed following the onset of COVID-19.

Juneteenth minneapolis

Communities across MN hosting events to mark Juneteenth

Juneteenth celebrates the freeing of enslaved African Americans after the Civil War.

U.S. district court minnesota - federal court

Moorhead man charged after 6-year-old was killed with his gun

Because of a previous felony conviction, Phillip Jones Jr. was prohibited from purchasing or possessing a firearm or ammunition.

Mike Zimmer

Coller: Mike Zimmer is Vikings minicamp's biggest winner

Matthew Coller writes a weekly Vikings column for BMTN, with more of his work found at Purple Insider.

forest service trash

Forest Service finds 2.28 tons of trash on just a 3-mile stretch of road

The agency is reminding people to stop dumping their old stuff.

hail in Burnsville

'Very large hail and damaging winds' possible with severe storms Thursday

Severe weather is likely in parts of Minnesota, Iowa and Wisconsin.

Police lights

St. Paul robbery ends with pursuit, crash, standoff in Minneapolis

Following the crash, the suspect remained in the car for four hours of negotiations with a SWAT Team.

Related

powerball-screengrab-03-27-2019

What are the odds? WI gets $768.4M Powerball jackpot win

This was the third-largest jackpot in U.S. history.