drawing time for illinois lottery winning numbers

The total prize is for winners who choose the annuity option, paid annually over 29 years.

Lottery officials had estimated the winning take at $1.28 billion, but revised the number up to $1.337 billion on Saturday. READ MORE: What the Mega Millions can teach you about investing That’s 29 consecutive draws without a jackpot winner.

It grew so large because no one had matched the game’s six selected numbers since April 15. The jackpot was the nation’s third-largest lottery prize. “We’re eager to find out who won and look forward to congratulating the winner soon!” “We are thrilled to have witnessed one of the biggest jackpot wins in Mega Millions history,” Ohio Lottery Director Pat McDonald, the current Lead Director for the Mega Millions Consortium, said in a statement on the lottery’s website. The Lottery encourages all players to seek financial advice before claiming a large jackpot prize.Īs with all claims, the names of those receiving prize funds and their city of residence is public record.CHICAGO (AP) - A single ticket bought in a Chicago suburb beat the odds and won a $1.337 billion Mega Millions jackpot.Īccording to, there was one jackpot-winning ticket in the draw Friday night, and it was bought at a Speedway gas station and convenience store in Des Plaines. When claiming a prize as a legal entity, the legal document organizing the entity must list the name of each member of the group, their city of residence, and the portion of the prize each person will receive. This simplifies the tax reporting and prize distribution for a group of people receiving payments over an extended time. While it is not necessary for a group of people to form a legal entity to claim the cash option, the Lottery asks a group of winners to form a legal entity with an assigned tax identification number for a jackpot prize paid in annual installments. The group members must decide on one payment option it is not possible for some group members to take the cash option and others to choose the annuity. The Powerball or Mega Millions jackpot prize may be paid in the annuity payment format or the single payment cash option. The Federal Form 5754 allows the Lottery to send a separate W-2G tax form to each individual winner noting the amount won and withheld on their behalf. The person receiving the check for the group also provides picture identification and is responsible for distributing the winnings to the group members.įor a prize paid in a single payment, the check recipient may choose to complete a Federal Form 5754 that ensures the tax obligation of the prize is distributed among the group members according to the gross prize amount of each person’s share. Each member of the group provides a completed IRS Form W-9 for tax reporting purposes at the time of the claim. The prize check is issued to either one person or legal entity (partnership, trust, etc.). The prize on a winning lottery ticket may be split among a group of ticket owners however only one prize check is issued.

Drawing time for illinois lottery winning numbers