Winning the Mega Millions jackpot is a dream come true for many people.
If you win, you'll have to decide whether to take the cash payout or the annuity.
The cash payout is a lump sum that you'll receive all at once.
The annuity is a series of annual payments over 30 years.
The cash payout is subject to federal income tax and possibly state and local taxes.
The annuity payments are also subject to taxes, but you'll pay them over time.
Taking the cash payout may be the best option if you're worried about taxes.
Consulting with a financial advisor and tax professional can help you make the best decision for your situation.
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