"$910 Million Mega
: Your Tax Bill If You Win"
Mega Millions jackpot hits an astonishing $910 million after Tuesday's draw with no winner.
Friday's 11:00 p.m. ET drawing offers a chance to win the colossal $910 million prize.
Winner faces a significant tax bill with a 24% federal withholding before receiving any proceeds.
The lump sum option of $464.2 million or 30 years of annuitized payments worth $910 million are pretax estimates.
Certified financial planner recommends the lump sum for maximizing investment opportunities.
Hitting the Mega Millions jackpot has odds of approximately 1 in 302 million.
Over $111.4 million goes straight to the IRS as a mandatory upfront federal withholding.
The 24% withholding doesn't cover the entire tax bill, as the winner enters the 37% tax bracket.
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