The jackpot for the MEGA Millions draw on Fri May 10, 2024, is projected to be $331 Million, with an option for a cash payout of $153.1 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Fri May 10, 2024 |
|---|
| Draw Date | Fri May 10, 2024 | | Projected Jackpot | $331,000,000 | | Cash Value | $153,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $153,100,000 | | Federal Tax(24%) | $36,744,000 | | Additional Federal Tax | $19,863,330 | | State Tax(10.75%) | $16,458,250 | | Net Lumpsum Payment | $80,034,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$535,552 |
$2,642,703 |
| 2 |
$5,231,124 |
$1,895,846
$562,346 |
$2,772,932 |
| 3 |
$5,492,614 |
$1,992,598
$590,456 |
$2,909,560 |
| 4 |
$5,767,344 |
$2,094,248
$619,989 |
$3,053,107 |
| 5 |
$6,055,645 |
$2,200,919
$650,982 |
$3,203,744 |
| 6 |
$6,358,510 |
$2,312,979
$683,540 |
$3,361,991 |
| 7 |
$6,676,270 |
$2,430,550
$717,699 |
$3,528,021 |
| 8 |
$7,010,249 |
$2,554,123
$753,602 |
$3,702,524 |
| 9 |
$7,360,778 |
$2,683,818
$791,284 |
$3,885,676 |
| 10 |
$7,728,850 |
$2,820,005
$830,851 |
$4,077,994 |
| 11 |
$8,115,127 |
$2,962,927
$872,376 |
$4,279,824 |
| 12 |
$8,520,933 |
$3,113,076
$916,000 |
$4,491,857 |
| 13 |
$8,946,930 |
$3,270,694
$961,795 |
$4,714,441 |
| 14 |
$9,394,442 |
$3,436,274
$1,009,903 |
$4,948,265 |
| 15 |
$9,864,131 |
$3,610,059
$1,060,394 |
$5,193,678 |
| 16 |
$10,357,321 |
$3,792,539
$1,113,412 |
$5,451,370 |
| 17 |
$10,875,005 |
$3,984,082
$1,169,063 |
$5,721,860 |
| 18 |
$11,418,838 |
$4,185,300
$1,227,525 |
$6,006,013 |
| 19 |
$11,989,813 |
$4,396,561
$1,288,905 |
$6,304,347 |
| 20 |
$12,589,254 |
$4,618,354
$1,353,345 |
$6,617,555 |
| 21 |
$13,218,816 |
$4,851,292
$1,421,023 |
$6,946,501 |
| 22 |
$13,879,823 |
$5,095,865
$1,492,081 |
$7,291,877 |
| 23 |
$14,573,599 |
$5,352,562
$1,566,662 |
$7,654,375 |
| 24 |
$15,302,461 |
$5,622,241
$1,645,015 |
$8,035,205 |
| 25 |
$16,067,402 |
$5,905,269
$1,727,246 |
$8,434,887 |
| 26 |
$16,871,070 |
$6,202,626
$1,813,640 |
$8,854,804 |
| 27 |
$17,714,458 |
$6,514,680
$1,904,304 |
$9,295,474 |
| 28 |
$18,600,214 |
$6,842,410
$1,999,523 |
$9,758,281 |
| 29 |
$19,530,324 |
$7,186,550
$2,099,510 |
$10,244,264 |
| 30 |
$20,506,774 |
$7,547,837
$2,204,478 |
$10,754,459 |
|
|
