$980 million Mega Millions jackpot after taxes
$980 million Mega Millions jackpot, drawn November 14, 2025, won in Georgia.
The winner would keep about
$262.4 million in cash in Georgia under 2026 rules
Two hundred sixty-two million three hundred seventy-one thousand two hundred twenty and 00/100 dollars
| Item | Amount | Share of jackpot |
|---|---|---|
| Advertised jackpotSum of 30 annuity payments | $980,000,000 | |
| Cash optionOfficial cash value | $452,200,000 | |
| Federal tax withheld at claim24% of the prize | −$108,528,000 | |
| Federal tax still owed at filingTop bracket is 37% | −$58,736,000 | |
| Georgia state tax4.99% of the prize; $22.6 million withheld at claim | −$22,564,780 | |
| You keep26.8% of the advertised jackpot | $262,371,220 |
Then and now
| Winning state | Tax rules at the time | 2026 rules |
|---|---|---|
| Georgia | not available | $262.4 million |
"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.
Quick Pick sold at Publix #1816 in Newnan, Georgia. Largest lottery prize in Georgia history. One Yahoo headline calls it '$983 million' when claimed, so the final jackpot may have been revised up; not verified. Overall rank unknown (see the note on the 2026-08-12 entry).
Annuity under today's rules
30 payments from $8.6 million to $35.3 million after tax
| Payment | Year | Before tax | Federal | State | After tax |
|---|---|---|---|---|---|
| 1 | 2026 | $14,750,406 | −$5,407,651 | −$736,045 | $8,606,710 |
| 2 | 2027 | $15,487,927 | −$5,680,533 | −$772,848 | $9,034,546 |
| 3 | 2028 | $16,262,323 | −$5,967,060 | −$811,490 | $9,483,773 |
| 4 | 2029 | $17,075,439 | −$6,267,913 | −$852,064 | $9,955,462 |
| 5 | 2030 | $17,929,211 | −$6,583,808 | −$894,668 | $10,450,735 |
| 6 | 2031 | $18,825,672 | −$6,915,499 | −$939,401 | $10,970,772 |
| 7 | 2032 | $19,766,955 | −$7,263,774 | −$986,371 | $11,516,811 |
| 8 | 2033 | $20,755,303 | −$7,629,462 | −$1,035,690 | $12,090,151 |
| 9 | 2034 | $21,793,068 | −$8,013,435 | −$1,087,474 | $12,692,159 |
| 10 | 2035 | $22,882,722 | −$8,416,607 | −$1,141,848 | $13,324,267 |
| 11 | 2036 | $24,026,858 | −$8,839,938 | −$1,198,940 | $13,987,980 |
| 12 | 2037 | $25,228,201 | −$9,284,434 | −$1,258,887 | $14,684,879 |
| 13 | 2038 | $26,489,611 | −$9,751,156 | −$1,321,832 | $15,416,623 |
| 14 | 2039 | $27,814,091 | −$10,241,214 | −$1,387,923 | $16,184,954 |
| 15 | 2040 | $29,204,796 | −$10,755,775 | −$1,457,319 | $16,991,702 |
| 16 | 2041 | $30,665,035 | −$11,296,063 | −$1,530,185 | $17,838,787 |
| 17 | 2042 | $32,198,287 | −$11,863,367 | −$1,606,695 | $18,728,226 |
| 18 | 2043 | $33,808,202 | −$12,459,035 | −$1,687,029 | $19,662,138 |
| 19 | 2044 | $35,498,612 | −$13,084,487 | −$1,771,381 | $20,642,744 |
| 20 | 2045 | $37,273,542 | −$13,741,211 | −$1,859,950 | $21,672,382 |
| 21 | 2046 | $39,137,219 | −$14,430,771 | −$1,952,947 | $22,753,501 |
| 22 | 2047 | $41,094,080 | −$15,154,810 | −$2,050,595 | $23,888,676 |
| 23 | 2048 | $43,148,784 | −$15,915,050 | −$2,153,124 | $25,080,610 |
| 24 | 2049 | $45,306,224 | −$16,713,303 | −$2,260,781 | $26,332,140 |
| 25 | 2050 | $47,571,535 | −$17,551,468 | −$2,373,820 | $27,646,247 |
| 26 | 2051 | $49,950,112 | −$18,431,542 | −$2,492,511 | $29,026,059 |
| 27 | 2052 | $52,447,617 | −$19,355,619 | −$2,617,136 | $30,474,862 |
| 28 | 2053 | $55,069,998 | −$20,325,899 | −$2,747,993 | $31,996,106 |
| 29 | 2054 | $57,823,498 | −$21,344,694 | −$2,885,393 | $33,593,411 |
| 30 | 2055 | $60,714,673 | −$22,414,429 | −$3,029,662 | $35,270,581 |
| Total | $980,000,000 | −$361,100,008 | −$48,902,000 | $569,997,992 | |
Questions
How much did the $980 million Mega Millions winner take home?
The cash value was $452.2 million. Under 2026 rules a single winner in Georgia would keep about $262.4 million after federal and state taxes.
Where was the $980 million Mega Millions ticket sold?
Georgia.
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
- $980M Mega Millions jackpot won in Newnan; largest lottery winner in Georgia history (Georgia Lottery) (checked Sep 26, 2026)
- $980M Mega Millions jackpot won in Newnan (megamillions.com) (checked Sep 26, 2026)
- $983 million Mega Millions claimed (Yahoo) (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.