# Mega Millions Nears $750 Million—Here’s What The Winner Could Take Home As the jackpot grows, the winner's take-home amount becomes a topic of interest. - **Source:** [Forbes - Business](https://brifing.si/source/e0310925-a7af-4d4b-80a7-c80d400e49fa) - **Published:** 2026-07-22 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/f6934eca-f2eb-458d-9574-61b218e969fb ## Mega Millions Jackpot Hits Record High The Mega Millions jackpot has reached $743 million, making it the largest lottery prize of the year so far. However, the winner's take-home amount will be much lower due to tax deductions. ## Winner's Options The winner can choose to receive $743 million in 30 annual installments or opt for a lump sum payment of $323.4 million. Most winners prefer the lump sum option. ## Tax Deductions If the lump sum is chosen, 24% will be withheld for federal taxes, reducing the amount to $245.8 million. The winner's marginal tax rate could be as high as 37%, further reducing the winnings to $203.7 million. ## State Taxes Depending on the winner's state of residence, additional taxes may apply. For example, New York taxes lottery winnings at 10.9%, while states like Texas, Florida, and California do not tax lottery winnings. ## Odds of Winning The odds of winning the Mega Millions jackpot are 1 in 290.4 million. This is slightly better than the Powerball jackpot's odds of 1 in 292.2 million. ## Next Draw The next Mega Millions draw will take place on Friday night. Meanwhile, the Powerball jackpot has risen to $567 million, with its next draw scheduled for Wednesday night. ## Sources covering this story - https://www.forbes.com/sites/siladityaray/2026/07/22/mega-millions-nears-750-million-heres-what-the-winner-could-take-home/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._