If you hit the $211 million Mega Millions jackpot, here's what you'll pay in taxes

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If you hit the $211 million Mega Millions jackpot, here's what you'll pay in taxes
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Your chance of winning Mega Millions is about 1 in 302 million... and even if you do win, you'll be faced with some hefty taxes.

Lottery officials withhold 24% for federal taxes, although you likely would owe much more at tax time.

The game's top prize has been climbing since late July, when a single ticket sold in New Hampshire matched all six numbers to win $168 million. And while the odds are stacked against players hitting the jackpot — your chance is about 1 in 302 million — the IRS is always a guaranteed eventual winner.

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