If you stand to claim a Mega Millions jackpot, or any other lottery prize, one of the first things you should do is seek out advice from financial experts.

While an automatic 24% is withheld upfront, you would almost certainly owe a total of 37% when you file your 2024 tax return.

The odds of winning the jackpot are 1 in 302 million, according to lottery organizers, and the last Mega Millions jackpot was won in Texas on Sept. 10 for $810 million. Mega Millions is played in 45 states as well as Washington, D.C., and the U.S. Virgin Islands. Friday’s drawing is at 8 p.m.