The Mega Millions jackpot is now up to $1.15 billion. Now, if by some strange chance you were to win this jackpot, Uncle Sam will take his share. But there are 8 states in this United States that won't charge additional taxes. 

According to msn.com,
‘State taxes on lottery winnings in the U.S. generally range from 3% to 6%, with New York imposing the highest rate at 10.9%. However, eight states don’t tax lottery winnings at all: 

Mega Millions Lottery Soars To Highest December Jackpot On Record
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  • California 
  • Florida 
  • New Hampshire 
  • South Dakota 
  • Tennessee 
  • Texas 
  • Washington 
  • Wyoming’ 

 

That's right, if you live in any of these eight states, including our beautiful state of Washington, you, if you win, would get to dodge an additional 3 to 6 percent tax. By the way, New York State has the highest tax for winnings at 10.9 percent. 

Mega Millions Lottery Jackpot Reaches Over 1 Billion
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I'm not a big math Wiz, but if I use somebody else's work. (Thank you msn.com), you're looking at a cash savings of approximately $75 million. If you took your winnings in the 30-year annuity, it would pay out to approximately $725,754,360. That's not bad. I'm almost tempted to play. (Almost.) I'm not going to say that I don't like gambling. I've been known to go to a blackjack table and get $20 in chips and play for half hour to 45 minutes if I'm lucky, and when the money’s gone, it's gone. 

Mega Millions Lottery Soars To Highest December Jackpot On Record
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In the household I grew up in, we didn't gamble, we didn't do scratch tickets, we didn't do Lotto, we barely played cards for recreation at home. I grew up in a house full of pragmatists. For the most part, I think that was a good thing. Sometimes I Wish that I could look up into the sky and wish on a star and say please help me win that Mega Millions jackpot. But honestly, I know that's not going to work. (At least not for me.) 

Does that make me a pessimist? I don't think so. I think it makes me a realist.  

Mega Millions Jackpot Hit 1.25 Billion
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And by the way, if you win that Mega Millions jackpot?  

I hope you're living in Washington Then you can save a few bucks. 

And we have a winner!

according to msn.com,
'A Mega Millions ticket holder in California woke up much richer on Saturday after they matched all six numbers in the lottery hours before to win an estimated $1.3 billion, the fifth largest jackpot in the game's history.'

Mega Millions jackpot climbs to $1.15 billion—here are 8 states where your prize won’t be taxed
Mega Millions 24811v52.gif | Internal Revenue Service
Powerball Jackpot Analysis | USA Mega
Mega Millions player in California wins $1.3 billion jackpot

Don't Play These Numbers If You Want To Win Big Lotto Bucks

Statistically speaking, all lottery numbers are created equal, right?

Wrong.

With random chance comes randomness, and these numbers have all proven to be duds time after time.

Gallery Credit: Renee Raven


 

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