Lump Sum vs. Annuity – Winners choose between a lump sum (cash value, lower than the advertised jackpot) or an annuity (30 payments over 29 years, increasing by 5% annually).
Single Winner Gets Full Prize – If only one person wins, they receive the entire jackpot (before taxes) in their chosen payout method.
Multiple Winners Split the Jackpot – If multiple players match all six numbers, the jackpot is divided equally among them.
Each Winner Chooses Payout Option – Winners can individually decide between the lump sum or annuity.
Tax Implications – Federal taxes apply to all jackpot winnings, and state taxes vary. More winners mean each person gets a smaller taxable amount.
Lump Sum is Reduced – The lump sum is roughly 50-60% of the advertised jackpot due to present value calculations.
Trusts and Legal Entities – Winners often claim their prize through trusts or legal entities for privacy and financial management.
State Laws Impact Claims – Some states allow anonymous claims, while others require public disclosure of winners.
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