Friday's Mega Millions jackpot is estimated to be worth $1.25 billion, making it one of the largest lottery prizes ever in the U.S.
If you beat the odds and match all six numbers you will take home much less than a billion dollars .
Winners can choose to have their prize money paid out in 30 payments over 29 years, or in a lump sum.409,622 tickets purchased in Texas won something in Tuesday night's Mega Million drawing, according to the Texas Lottery. If there is a single winner of the $1.25 billion jackpot, those who pick the cash option will receive an estimated $625.3 million.
Then there are the taxes. The IRS immediately takes 24% of all lottery winnings over $5,000, dropping the total to approximately $475,228,000 for a winner choosing the lump sum. Texas is one of 10 states that does not tax lottery winnings at the state level.
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