The Mega Millions jackpot has reached an estimated $792 million for Friday's drawing after no one won the jackpot Tuesday night.
, which gives one immediate payment and continues to give annual payments over the next 29 years. The payments increase by 5% each time in the annuity option, however most choose the cash option.
There's a mandatory 24% federal withholding for winnings above $5,000 that goes straight to the IRS. Some states tax lottery winnings as well, but states that do not impose an income tax on lottery winnings include Millions, if not billions, are up grabs once a winning lotto ticket goes unclaimed. What to know about who gets to keep it.
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