The jackpot for the MEGA Millions draw on Tue Jun 4, 2024, is projected to be $560 Million, with an option for a cash payout of $258.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For those living in Delaware, the bright side is you won't have to pay any state taxes on your lottery prize.
| Delaware MEGA Millions Jackpot/Cash Option for Tue Jun 4, 2024 |
|---|
| Draw Date | Tue Jun 4, 2024 | | Projected Jackpot | $560,000,000 | | Cash Value | $258,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $258,400,000 | | Federal Tax(24%) | $62,016,000 | | Additional Federal Tax | $33,552,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $162,831,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,428,560 |
$3,078,898
$0 |
$5,349,662 |
| 2 |
$8,850,240 |
$3,234,919
$0 |
$5,615,321 |
| 3 |
$9,292,640 |
$3,398,607
$0 |
$5,894,033 |
| 4 |
$9,757,440 |
$3,570,583
$0 |
$6,186,857 |
| 5 |
$10,245,200 |
$3,751,054
$0 |
$6,494,146 |
| 6 |
$10,757,600 |
$3,940,642
$0 |
$6,816,958 |
| 7 |
$11,295,200 |
$4,139,554
$0 |
$7,155,646 |
| 8 |
$11,860,240 |
$4,348,619
$0 |
$7,511,621 |
| 9 |
$12,453,280 |
$4,568,044
$0 |
$7,885,236 |
| 10 |
$13,076,000 |
$4,798,450
$0 |
$8,277,550 |
| 11 |
$13,729,520 |
$5,040,253
$0 |
$8,689,267 |
| 12 |
$14,416,080 |
$5,294,280
$0 |
$9,121,800 |
| 13 |
$15,136,800 |
$5,560,946
$0 |
$9,575,854 |
| 14 |
$15,893,920 |
$5,841,081
$0 |
$10,052,839 |
| 15 |
$16,688,560 |
$6,135,098
$0 |
$10,553,462 |
| 16 |
$17,522,960 |
$6,443,826
$0 |
$11,079,134 |
| 17 |
$18,398,800 |
$6,767,886
$0 |
$11,630,914 |
| 18 |
$19,318,880 |
$7,108,316
$0 |
$12,210,564 |
| 19 |
$20,284,880 |
$7,465,736
$0 |
$12,819,144 |
| 20 |
$21,299,040 |
$7,840,975
$0 |
$13,458,065 |
| 21 |
$22,364,160 |
$8,235,070
$0 |
$14,129,090 |
| 22 |
$23,482,480 |
$8,648,848
$0 |
$14,833,632 |
| 23 |
$24,656,240 |
$9,083,139
$0 |
$15,573,101 |
| 24 |
$25,889,360 |
$9,539,394
$0 |
$16,349,966 |
| 25 |
$27,183,520 |
$10,018,233
$0 |
$17,165,287 |
| 26 |
$28,543,200 |
$10,521,314
$0 |
$18,021,886 |
| 27 |
$29,970,080 |
$11,049,260
$0 |
$18,920,820 |
| 28 |
$31,468,640 |
$11,603,727
$0 |
$19,864,913 |
| 29 |
$33,042,240 |
$12,185,959
$0 |
$20,856,281 |
| 30 |
$34,694,240 |
$12,797,199
$0 |
$21,897,041 |
|
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