If you win the Mega Millions jackpot, how much do you pay in taxes and how much would you take away?

What happens if the winner does not claim the Mega Millions prize?

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(CNN Spanish) --

The Mega Millions in the United States is increasing its jackpot and some lucky one could take a considerable booty before the end of the year.

• How many numbers do you have to have to win the Mega Millions?

  How much do you win with 1, 2 and 3 numbers?

But there is something you should know before: if you win, the juicy figure will stop being so.

In other words, you will take less money (much less).

And this is so mainly due to two factors: the payment of a commission to the lottery and the payment of taxes.

How much money do I have left if I win the Mega Millions jackpot?

If you win the jackpot, there are two ways to collect it: in one installment or in 30 payments over 29 years.

Since the first is the most common, let's talk about that case.

By opting for a single payment,

is automatically subtracted from the jackpot for lottery commission.

And we are just beginning with the cuts.

There's still more.

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This payment

for federal taxes from lottery prizes where the winnings (minus the bet) are greater than US $ 5,000, according to the Internal Revenue Service (IRS).

• Can I play the Mega Millions lottery if I don't live in the United States?

Then you must subtract additional federal income taxes.

In this case, the

for individual taxpayers with income greater than $539,900 and for married couples filing jointly with income greater than $647,850, according to the IRS.

And state taxes must still be taken out, if they apply in the US state where you bought your Mega Millions ticket.

For example, according to an analysis of the USAMega.com site,

On the other hand, in

there is a 10.75% tax.

Click here to find out the states where taxes do apply for the prize, according to USAMega.com.

Mega Millions Lottery