Regardless of your income so far this year, welcome to the top of the financial food chain, where the tax rate is 37%. But that isn't happening. So what's really going on?
In fact, it's possible we may never know the name of the victor.
If no tickets match the Tuesday numbers, lottery officials say the jackpot is expected to grow to an estimated $2 billion for Friday's drawing. And just so you know - foreigners and non-residents are eligible to buy and win the lotteries, although they will be subject to different tax laws. However, your chances are pretty slim. And the tax-sheltered structure means you'd have about 20 percent more money after 30 years than if you tried to replicate this investing strategy on your own. Still, lottery fever has gripped the nation, with endless local news reports of queues coming out of corner stores and dreams of what players would do with the cash. The next Mega Millions drawing is set for 11 p.m. October 23.
After he bought his Mega Millions tickets inside, he said he gave the lotto employees a head's up about what to expect when he returns after his numbers are picked Tuesday night. What's more, the price of a ticket has doubled.
Twitter is full of posts of the most unlikely people buying tickets for a lark - including a celebrated reporter who says she's merely shooting for a story on what happens when one wins a big jackpot.
Thanks to the massive $1.6 billion Mega Millions jackpot, Washington State Lottery sales are blistering hot.
Meanwhile, some states that allow lotteries crush their competition with strict gambling regulations.
Weed said he would use the money to ensure that his family is taken care of, pay off debts, buy property and fund a political super PAC supporting left-wing causes.
Last July, lottery commission officials announced the agency had raised $63.2 million in revenue for schools, a 19 percent increase over an all-time low of $53 million the previous year. As of 2016, North Carolina devoted a smaller portion of its total budget to education than it did before starting the lottery. New York has the highest tax at 8.8 percent and residents of New York City face another 3.8 percent extra in taxes.