Millions of Americans will be vying for the Mega Millions $340 million jackpot tomorrow (Friday, December 13th). No one (not even a person who matches all six numbers) will be bringing home that amount.

According to April Walker from the American Institute of CPAs, it doesn’t matter if the winner chooses to take payments or the reduced lump sum payout, 24 percent of the jackpot will be withheld for federal taxes. Looking at tomorrow’s drawing specifically, the lump sum payment will be $230.8 million. You can subtract $55.4 million right off the bat for government taxation.

Wait, that is not the end of it. When tax time rolls around Uncle Sam will take another 13 percent. That is another $30 million paid in taxes. “There is still a sizable tax bill coming, for sure,” Walker says according to CNBC.

When all the taxes are taken care of, a 340 million dollar winner will pocket around $145 million. The government will get about $85 million without buying a ticket.

I have my ticket and a dream of winning. It will be tough, but I feel like I can stretch out $145 million to live on.

What’s the most you’ve won playing the lottery?

By: Buck Stevens