What does the Mega Millions jackpot winner face in taxes?
Thu, 19 Dec 2013 00:14:43 GMT —
The Mega Millions winning numbers were announced Tuesday night. Many Americans were disappointed to find that they did not hold the winning ticket.
The two winning tickets were sold in San Jose, Calif. and Atlanta, Ga.
Though the jackpot was worth $636 million, accountants say taxes will take a large sum of that.
Kaci Jones, with Brown, Graham and Company said "You're not going to dodge the taxes. You just got to be efficient. At that amount of money, the taxes rate's about 40 percent in Texas."
Jones also said the winner will still have to pay the taxes regardless of if they take the payout or the annuity payments.