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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $6,108,690 | | Net Lumpsum Payment | $90,383,980 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$198,777 |
$2,979,478 |
| 2 |
$5,231,124 |
$1,895,846
$208,722 |
$3,126,556 |
| 3 |
$5,492,614 |
$1,992,598
$219,155 |
$3,280,861 |
| 4 |
$5,767,344 |
$2,094,248
$230,117 |
$3,442,979 |
| 5 |
$6,055,645 |
$2,200,919
$241,620 |
$3,613,106 |
| 6 |
$6,358,510 |
$2,312,979
$253,705 |
$3,791,826 |
| 7 |
$6,676,270 |
$2,430,550
$266,383 |
$3,979,337 |
| 8 |
$7,010,249 |
$2,554,123
$279,709 |
$4,176,417 |
| 9 |
$7,360,778 |
$2,683,818
$293,695 |
$4,383,265 |
| 10 |
$7,728,850 |
$2,820,005
$308,381 |
$4,600,464 |
| 11 |
$8,115,127 |
$2,962,927
$323,794 |
$4,828,406 |
| 12 |
$8,520,933 |
$3,113,076
$339,985 |
$5,067,872 |
| 13 |
$8,946,930 |
$3,270,694
$356,983 |
$5,319,253 |
| 14 |
$9,394,442 |
$3,436,274
$374,838 |
$5,583,330 |
| 15 |
$9,864,131 |
$3,610,059
$393,579 |
$5,860,493 |
| 16 |
$10,357,321 |
$3,792,539
$413,257 |
$6,151,525 |
| 17 |
$10,875,005 |
$3,984,082
$433,913 |
$6,457,010 |
| 18 |
$11,418,838 |
$4,185,300
$455,612 |
$6,777,926 |
| 19 |
$11,989,813 |
$4,396,561
$478,394 |
$7,114,858 |
| 20 |
$12,589,254 |
$4,618,354
$502,311 |
$7,468,589 |
| 21 |
$13,218,816 |
$4,851,292
$527,431 |
$7,840,093 |
| 22 |
$13,879,823 |
$5,095,865
$553,805 |
$8,230,153 |
| 23 |
$14,573,599 |
$5,352,562
$581,487 |
$8,639,550 |
| 24 |
$15,302,461 |
$5,622,241
$610,568 |
$9,069,652 |
| 25 |
$16,067,402 |
$5,905,269
$641,089 |
$9,521,044 |
| 26 |
$16,871,070 |
$6,202,626
$673,156 |
$9,995,288 |
| 27 |
$17,714,458 |
$6,514,680
$706,807 |
$10,492,971 |
| 28 |
$18,600,214 |
$6,842,410
$742,149 |
$11,015,655 |
| 29 |
$19,530,324 |
$7,186,550
$779,260 |
$11,564,514 |
| 30 |
$20,506,774 |
$7,547,837
$818,220 |
$12,140,717 |
|
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