Better luck next time: $540M jackpot ticket sold in Indiana - Bring Me The News

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

Author:
Publish date:
Image placeholder title

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

Related