There’s no doubt that $1.35 billion would completely change your life.
Even if you chose the cash option, you’d still get $707.9 million. Well, then there are the income taxes.
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If you took the lump sum and subtracted the mandatory 24% federal withholding, your prize would be lowered to $538 million. Then you’d likely have to pay another 37% on the full $707.9 million.
That would bring your total winnings amount to $446 million. Then there’s the state -- and maybe even local -- taxes you’d have to pay.
But even if you cut your winnings in half you’d have around $354 million, which is nothing to sneeze at.
So, what would you do? Pay off debt? Make sure your family is cared for? Travel the world? Or keep living life as usual?
If you do win, you need to make careful and calculated decisions. If you don’t, you might end up like 70% of lottery winners who go bankrupt within a few years.
Read: Rip up the winning ticket? 5 reasons why winning lottery can destroy lives
Have you bought a ticket yet? Here are the luckiest and unluckiest Mega Millions numbers of 2022.
What else would you do if you won the lottery? Or do you not want to win? Let us know in the comments!
Read: Can you stay anonymous if you win the $1.1 billion Mega Millions jackpot in Michigan?