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There are two Mega Millions Jackpot Prize Payment Options. You can receive your prize in 30 annual payments or you can receive the prize in a lump sum cash payment. The Mega Millions annuity is paid out as one immediate payment followed by 29 annual payments. Each payment is 5% bigger than the previous one.
For every $1,000,000 in the jackpot, you will receive approximately $38,500 per year before taxes. Cash option: A one-time, lump-sum payment that is equal to all the cash in the Mega Millions jackpot prize pool.