Two winning lottery tickets, purchased in Missouri and Arizona, were drawn Wednesday night. The jackpot value was $587.5 million, according to CNN.
The winning ticket holder from Missouri claimed her money Friday but the winner from Arizona has yet to come forward.
Winners have 180 days to claim their winnings.
Although, the nearly six million dollar prize will be taxed at the highest federal tax rate of 35 percent, which is based on the highest income earners.
“A lot of lottery winners aren’t good with their money and run through it quickly, so sometimes an annuity is a good idea so that they save money,” said Mark Luscombe, principal analyst at tax research firm CCH.
Winners also have the option to receive $385 million in cash right away, but it too will be taxed heavily.
If the winners from Missouri and Arizona take lump sums of $192.5 million they would owe the IRS $67 million because of the federal tax rate.
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