When Do Mega Millions Play Again

What to Do When Yous Win Mega Millions

Information technology'south the moment every lottery role player fantasizes nigh. You cheque your numbers and realize that you take correctly matched the numbers to win a multimillion-dollar jackpot prize, but what happens next? Here are some steps that you need to take to receive your winnings and primal information to consider when y'all win the jackpot.

Your Ticket

It'south important that you sign the back of your ticket immediately to forbid anyone else from claiming your prize. Y'all should besides brand a photocopy, before stowing your ticket away in a secure location, such as a safe, until you are ready to claim your winnings.

How Long Do I Accept to Claim?

The length of time that yous have to claim a Mega Millions prize varies from state to country. The shortest merits flow is 90 days in New Mexico and the longest merits period is i year in several states, including Oregon, Rhode Island, and Pennsylvania. You lot tin can check the length of time you lot accept to claim a Mega Millions prize in your land or jurisdiction on the Where to Claim page.

Who Should You lot Tell?

You lot've waited a lifetime to win the jackpot and the experience can be very overwhelming. Y'all may want to tell all your friends and relatives, simply you should call up nigh holding off on sharing the news until you lot take contacted your local lottery role, confirmed the details and decided how you volition bargain with the adept fortune.

You may also want to seek professional communication from a fiscal expert. Winning the jackpot tin alter your life for the amend, but information technology can take a lot of planning and careful idea. Information technology is important that you have your time to make decisions, and employing an chaser is advised.

Contact Your Lottery Office

Once you contact your nearest lottery office, they will ask you a fix of questions to do with your ticket, checking the information against their records. After your ticket has been verified, a coming together volition be arranged, and you will demand to provide the physical ticket aslope relevant identification documents when visiting lottery officials. On meeting the claims team, you can enquire for communication and they will complete the necessary paperwork.

Cash vs Annuity

When you win a Mega Millions jackpot, you take two options for receiving your winnings. Yous can either choose to receive a one-off cash lump sum or to accept the full value of the jackpot in annual instalments over 29 years. The best option for yous depends on your own personal circumstances and varies from actor to player. Y'all can learn more about each selection on the Cash vs Annuity folio.

How Much Will You Pay in Taxes?

If you win a Mega Millions jackpot, y'all volition have to pay federal taxes. A federal tax of 39.6 pct is due on all jackpot prizes. 25 per centum is taken immediately before you receive your winnings and a further 14.6 pct is due at the stop of the tax twelvemonth. You may also exist liable for state taxes. You can find out more than about taxes on winnings on the Mega Millions Taxes page.

To Go Public or Stay Bearding?

In nigh states, your identity becomes public record when you win the Mega Millions jackpot, and you will normally be expected to attend a press conference. At the press conference, yous do non have to event any statement, and some previous winners take even altered their appearance to help protect their identity.

At that place are six states that allow players to remain anonymous - Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina. Some players prefer to remain anonymous oftentimes citing protecting their privacy and family'due south wellbeing every bit the reason.

In that location are likewise a certain number of states that allow players to claim their winnings via a trust fund. In this example, a lawyer will collect the winnings on your behalf. This pick is preferred past many winners, as it tin reduce the stress of dealing with such a large corporeality of money in the public eye.

Savor Your Winnings

Once you receive your Mega Millions jackpot and have consulted a fiscal professional person for advice, you lot tin can then relax and savor your winnings. You may desire to retire, buy a gunkhole or take that vacation that yous've always dreamed of. You can also provide financial security for your family, also equally make extravagant purchases and salvage money for the futurity.

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Source: https://mega-millions.com/what-to-do-when-you-win