Here’s How Much Taxes the Mega Millions Winner Will Pay on $980 Million Jackpot

Source of this Article 2 hours ago 15
  • The Mega Millions jackpot finally hit after 39 drawings
  • A single ticket sold at a grocery store in Georgia matched the six numbers

Friday night’s Mega Millions winner won the rights to pick between an annuitized prize of $980 million paid out over 30 years or a one-time cash windfall of $453.6 million. The generation-changing riches also come with sizable tax bills.

Mega Millions jackpot lottery taxesA Google street view shows the Public in Newnan, GA, where the winning Mega Millions ticket for the Friday, Nov. 14, 2025, draw was purchased. The winner has the choice of $980 million over 30 years or $453.6 million immediately. Both amounts are before federal and state taxes. (Image: Google Maps)

Mega Millions announced that a single ticket sold in Georgia for the Friday, Nov. 14, drawing matched the five white balls and the gold Mega Ball to claim the eighth-largest prize in the game’s history.

The $980 million jackpot marks the biggest payout since Mega Millions underwent a major gameplay overhaul earlier this year. The basic price to play was raised from $2 to $5, but the formerly optional $1 Megaplier is now included with every ticket. One gold Mega Ball was removed to slightly shorten the jackpot’s odds from one in 302.2 million to one in 290.4 million.

$983 million is the largest jackpot that’s been won since the Mega Millions game changed back in April,” said Joshua Johnston, lead director for the Mega Millions Consortium. “Congratulations to our big winner from Georgia and to all our players who are winning more than ever with this new version of the game.”

The winning numbers were 1, 8, 11, 12, and 57, plus the gold Mega Ball 7.

Tax Bill

The Georgia Lottery said the winning Mega Millions ticket was sold at a Publix grocery store at 4000 N. Highway 29 in Newman. The town is roughly 30 miles southwest of Atlanta. The player chose the numbers by selecting the Quik Pik option.

“We are thrilled to congratulate the largest winner in our state’s history,” said Georgia Lottery President and CEO Gretchen Corbin. “With every Mega Millions ticket sold in Georgia supporting HOPE and Pre-K, Georgia’s students and families are also big winners. We appreciate our players and retailers for their support of our mission.”

Friday’s winner will contribute significantly to the public education mission. Georgia is among the majority of states that tax lottery winnings as personal income.

The Peach State has a flat individual income tax of 5.19%, which applies to the Mega Millions money. If the winner chooses the full value paid through the annuity, the federal government reduces the annual distribution by 37%. That slashes the yearly check from $32.7 million to $20.6 million. After Georgia takes its cut, the annuity payment is trimmed by another $1.7 million for a net payout of approximately $18.9 million. Over the 30 years, the winner would receive $567.8 million.

If the winner opts for the one-time payment, the $453.6 million would be reduced to $284.92 million after federal taxes of $167.8 million. After Georgia’s levy of $23.5 million, the net payout comes to $261.1 million.

Georgia Lottery Proceeds 

Georgia has among the most successful lottery options in the United States. Mega Millions is drawn on Tuesdays and Fridays from the lottery’s studios in Atlanta.

Since its formation in 1992, the Georgia Lottery has contributed $30 billion to public education in the Peach State.

The post Here’s How Much Taxes the Mega Millions Winner Will Pay on $980 Million Jackpot appeared first on Casino.org.



GambleRss shares this Content always with
Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) License.

Read Entire Article


Screenshot generated in real time with SneakPeek Suite