The new date is Jul 27, 2022.

Because of taxes, the winner of the Mega Millions lottery will take home less money than the previous winner.

Mega Millions Jackpot Becomes Largest Prize In U.S. History at $1.6 Billion

There are Mega Millions lottery tickets in a convenience store.

Getty Images

Most Mega Millions winners choose to take 30 annual payments over the course of 29 years.

The prize will be subject to an initial 24% federal tax withholding if the cash option is taken into account.

For a single taxpayer with no additional income, no dependents and no itemized deductions, the total additional tax would be another $78.6 million due.

The full $1.03 billion in winnings over 30 annual payments of $34.1 million on average is provided by the annuity option.

The extra federal tax for a single taxpayer with no other income would come to another $4.4 million, leaving the winner with $21.5 million.

In New York, state income taxes can be as high as 10.9%, even though some states don't tax lottery winnings.

In New York City, the top income tax rate is more than four times the state and federal tax rate.

There have been three times when the Mega Millions prize has exceeded $1 billion. It was the largest in history. By matching all six numbers, you have a 1 in 302 million chance of winning the grand prize. The next drawing will be held on Friday at 11 p.m. It's time to est.

If you win the $810 million lottery, you must do this.