MegaMillions jackpots, as well as any large lottery prize, are subject to taxes. Your local lottery has to withhold 24% in federal taxes in addition to the state lottery tax. (You’ll face ...
A lucky player in California won the jackpot on Dec. 27, and the prize money reset to $20 million on Dec. 31. According to the lottery, only four MegaMillions jackpots were won in 2024 ...