$1.602 billion Mega Millions jackpot after taxes
The official cash value for this jackpot has not been verified against an official source yet, so this page shows the annuity only and is not listed in search results until it is.
$1.602 billion Mega Millions jackpot, drawn August 8, 2023, won in Florida.
The winner would keep about
$1.01 billion over 30 annuity payments in Florida under 2026 rules
One billion ten million seven hundred fifty-nine thousand nine hundred ninety-three and 00/100 dollars
| Item | Amount | Share of jackpot |
|---|---|---|
| Advertised jackpotSum of 30 annuity payments | $1,602,000,000 | |
| Federal tax over 30 yearsEach payment taxed in its own year | −$591,240,007 | |
| Florida state tax over 30 yearsNo state income tax | $0 | |
| You keep, in totalFirst payment $15.2 million after tax, rising 5% a year | $1,010,759,993 |
Then and now
| Winning state | Tax rules at the time | 2026 rules |
|---|---|---|
| Florida | not available | cash value not verified |
"At the time" applies the top federal rate and the winning state's top rate in the year of the drawing to the cash value, where both are sourced. 2026 figures use the full calculation described in the methodology.
Ticket sold at a Neptune Beach, Florida supermarket. Largest Mega Millions jackpot. Cash value NOT verified this session.
Annuity under today's rules
30 payments from $15.2 million to $62.6 million after tax
| Payment | Year | Before tax | Federal | State | After tax |
|---|---|---|---|---|---|
| 1 | 2026 | $24,112,399 | −$8,871,588 | $0 | $15,240,811 |
| 2 | 2027 | $25,318,019 | −$9,317,667 | $0 | $16,000,352 |
| 3 | 2028 | $26,583,920 | −$9,786,051 | $0 | $16,797,869 |
| 4 | 2029 | $27,913,116 | −$10,277,853 | $0 | $17,635,263 |
| 5 | 2030 | $29,308,772 | −$10,794,246 | $0 | $18,514,526 |
| 6 | 2031 | $30,774,210 | −$11,336,458 | $0 | $19,437,752 |
| 7 | 2032 | $32,312,921 | −$11,905,781 | $0 | $20,407,140 |
| 8 | 2033 | $33,928,567 | −$12,503,570 | $0 | $21,424,997 |
| 9 | 2034 | $35,624,995 | −$13,131,248 | $0 | $22,493,747 |
| 10 | 2035 | $37,406,245 | −$13,790,311 | $0 | $23,615,934 |
| 11 | 2036 | $39,276,557 | −$14,482,326 | $0 | $24,794,231 |
| 12 | 2037 | $41,240,385 | −$15,208,943 | $0 | $26,031,442 |
| 13 | 2038 | $43,302,404 | −$15,971,890 | $0 | $27,330,514 |
| 14 | 2039 | $45,467,524 | −$16,772,984 | $0 | $28,694,540 |
| 15 | 2040 | $47,740,901 | −$17,614,134 | $0 | $30,126,767 |
| 16 | 2041 | $50,127,946 | −$18,497,340 | $0 | $31,630,606 |
| 17 | 2042 | $52,634,343 | −$19,424,707 | $0 | $33,209,636 |
| 18 | 2043 | $55,266,060 | −$20,398,443 | $0 | $34,867,618 |
| 19 | 2044 | $58,029,363 | −$21,420,865 | $0 | $36,608,499 |
| 20 | 2045 | $60,930,831 | −$22,494,408 | $0 | $38,436,424 |
| 21 | 2046 | $63,977,373 | −$23,621,628 | $0 | $40,355,745 |
| 22 | 2047 | $67,176,242 | −$24,805,210 | $0 | $42,371,032 |
| 23 | 2048 | $70,535,054 | −$26,047,970 | $0 | $44,487,084 |
| 24 | 2049 | $74,061,806 | −$27,352,869 | $0 | $46,708,938 |
| 25 | 2050 | $77,764,897 | −$28,723,012 | $0 | $49,041,885 |
| 26 | 2051 | $81,653,141 | −$30,161,663 | $0 | $51,491,479 |
| 27 | 2052 | $85,735,799 | −$31,672,246 | $0 | $54,063,553 |
| 28 | 2053 | $90,022,588 | −$33,258,358 | $0 | $56,764,230 |
| 29 | 2054 | $94,523,718 | −$34,923,776 | $0 | $59,599,942 |
| 30 | 2055 | $99,249,904 | −$36,672,465 | $0 | $62,577,439 |
| Total | $1,602,000,000 | −$591,240,007 | $0 | $1,010,759,993 | |
Questions
How much did the $1.602 billion Mega Millions winner take home?
The official cash value is not in our verified data yet. Taking the annuity, a single winner in Florida would keep about $1.01 billion over 30 years under 2026 rules.
Where was the $1.602 billion Mega Millions ticket sold?
Florida.
These figures describe the taxes on a prize that has already been won; they are not a reason to buy a ticket. Jackpot odds are hundreds of millions to one. If gambling is causing problems for you or someone close to you, call or text 1-800-GAMBLER (National Problem Gambling Helpline, 24/7).
Sources for this page
- What are the 10 largest US lottery jackpots ever won? (AP via Yahoo) (checked Sep 26, 2026)
- Largest Mega Millions Jackpot (megamillions.com) (checked Sep 26, 2026)
- IRS: 2026 inflation adjustments (Rev. Proc. 2025-32) (checked Sep 26, 2026)
- IRS Publication 505: withholding on gambling winnings (checked Sep 26, 2026)
Figures are estimates for planning, not tax or legal advice. How they are calculated: methodology. Read the disclaimer.