Only the jackpot can be won none of the lower-tier prizes are available on such a wager. Several of the game's members offer the Just the Jackpot option, in which two plays cost $3. The Megaplier was made available to all Mega Millions jurisdictions in January 2011 it began as an option available only in Texas. Of the 47 Mega Millions jurisdictions, all but California offer an option, called "Megaplier" (plays with the Megaplier are $3 each) where nonjackpot prizes are multiplied by 2, 3, 4, or 5. In the current version of Mega Millions, five white balls are drawn from a pool of 70, and one gold-colored "MegaBall" is drawn from a separate pool of 25 a player must match all six numbers to win the jackpot.Įach game costs $2. Mega Millions' previous format began on Octoits first drawing was three days later. A cash-value option (the usual choice), when chosen by a jackpot winner, pays the approximate present value of the installments. Reflecting common practice among American lotteries, the jackpot is advertised as a nominal value of annual installments. The jackpot increases when no top-prize winner results. Under the current version's regulations (which began October 28, 2017, with the first drawing October 31) for Mega Millions, the minimum Mega Millions advertised jackpot is $20 million, paid in 30 graduated yearly installments, increasing 5% each year (unless the cash option is chosen see below for differences by lotteries on cash/annuity choice regulations). The hosts are John Crow and Adrian Wollford. Mega Millions is administered by a consortium of its 12 original lotteries the drawings are held at the studios of WSB-TV in Atlanta, Georgia, supervised by the Georgia Lottery. Mega Millions is drawn at 11 pm Eastern Time on Tuesday and Friday evenings, including holidays. What is now Mega Millions initially was offered in six states the logo for all versions of the game following the retirement of The Big Game name featured a gold-colored ball with six stars to represent the game's initial membership, although some lotteries insert their respective logos in the ball. The first (The Big Game) Mega Millions drawing was in 2002. Mega Millions (originally known as The Big Game in 1996 and renamed, temporarily, to The Big Game Mega Millions six years later) is an American multijurisdictional lottery game as of January 30, 2020, it is offered in 45 states, the District of Columbia, and the U.S. The Lottery encourages all players to seek financial advice before claiming a large jackpot prize.Īs with all claims, the names of those receiving prize funds and their city of residence is public record.American multi-jurisdictional lottery game When claiming a prize as a legal entity, the legal document organizing the entity must list the name of each member of the group, their city of residence, and the portion of the prize each person will receive. This simplifies the tax reporting and prize distribution for a group of people receiving payments over an extended time. While it is not necessary for a group of people to form a legal entity to claim the cash option, the Lottery asks a group of winners to form a legal entity with an assigned tax identification number for a jackpot prize paid in annual installments. The group members must decide on one payment option it is not possible for some group members to take the cash option and others to choose the annuity. The Powerball or Mega Millions jackpot prize may be paid in the annuity payment format or the single payment cash option. The Federal Form 5754 allows the Lottery to send a separate W-2G tax form to each individual winner noting the amount won and withheld on their behalf. The person receiving the check for the group also provides picture identification and is responsible for distributing the winnings to the group members.įor a prize paid in a single payment, the check recipient may choose to complete a Federal Form 5754 that ensures the tax obligation of the prize is distributed among the group members according to the gross prize amount of each person’s share. Each member of the group provides a completed IRS Form W-9 for tax reporting purposes at the time of the claim. The prize check is issued to either one person or legal entity (partnership, trust, etc.). The prize on a winning lottery ticket may be split among a group of ticket owners however only one prize check is issued.
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