Mega Millions jackpot is $785 million. Here's the tax bill

Mega Millions players may be daydreaming about what they’d do with an extra $785 million, the game’s current jackpot amount. One way they should count on using it if they win? Sharing a slice with the IRS.

After no tickets matched all six numbers drawn Friday night, the jackpot climbed again, marking the fourth time in the game’s history that the top prize has gone above $700 million, according to Mega Millions officials. In the previous three instances, those jackpots ended up being worth more than $1 billion when they were won.

The jackpot has been rolling higher through twice-weekly drawings since mid-October with no winner. If someone nabs it in the next drawing — set for Tuesday night — this $785 million prize would rank as the sixth-largest lottery prize ever won and the fourth-largest Mega Millions prize