The jackpot for the MEGA Millions draw on Tue Dec 17, 2024, is projected to be $740 Million, with an option for a cash payout of $342.9 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 Dec 17, 2024 |
|---|
| Draw Date | Tue Dec 17, 2024 | | Projected Jackpot | $740,000,000 | | Cash Value | $342,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $342,900,000 | | Federal Tax(24%) | $82,296,000 | | Additional Federal Tax | $44,537,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $216,066,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,137,740 |
$4,081,294
$0 |
$7,056,446 |
| 2 |
$11,694,960 |
$4,287,466
$0 |
$7,407,494 |
| 3 |
$12,279,560 |
$4,503,768
$0 |
$7,775,792 |
| 4 |
$12,893,760 |
$4,731,022
$0 |
$8,162,738 |
| 5 |
$13,538,300 |
$4,969,501
$0 |
$8,568,799 |
| 6 |
$14,215,400 |
$5,220,028
$0 |
$8,995,372 |
| 7 |
$14,925,800 |
$5,482,876
$0 |
$9,442,924 |
| 8 |
$15,672,460 |
$5,759,141
$0 |
$9,913,319 |
| 9 |
$16,456,120 |
$6,049,095
$0 |
$10,407,025 |
| 10 |
$17,279,000 |
$6,353,560
$0 |
$10,925,440 |
| 11 |
$18,142,580 |
$6,673,085
$0 |
$11,469,495 |
| 12 |
$19,049,820 |
$7,008,764
$0 |
$12,041,056 |
| 13 |
$20,002,200 |
$7,361,144
$0 |
$12,641,056 |
| 14 |
$21,002,680 |
$7,731,322
$0 |
$13,271,358 |
| 15 |
$22,052,740 |
$8,119,844
$0 |
$13,932,896 |
| 16 |
$23,155,340 |
$8,527,806
$0 |
$14,627,534 |
| 17 |
$24,312,700 |
$8,956,029
$0 |
$15,356,671 |
| 18 |
$25,528,520 |
$9,405,883
$0 |
$16,122,637 |
| 19 |
$26,805,020 |
$9,878,188
$0 |
$16,926,832 |
| 20 |
$28,145,160 |
$10,374,040
$0 |
$17,771,120 |
| 21 |
$29,552,640 |
$10,894,807
$0 |
$18,657,833 |
| 22 |
$31,030,420 |
$11,441,586
$0 |
$19,588,834 |
| 23 |
$32,581,460 |
$12,015,471
$0 |
$20,565,989 |
| 24 |
$34,210,940 |
$12,618,378
$0 |
$21,592,562 |
| 25 |
$35,921,080 |
$13,251,130
$0 |
$22,669,950 |
| 26 |
$37,717,800 |
$13,915,916
$0 |
$23,801,884 |
| 27 |
$39,603,320 |
$14,613,559
$0 |
$24,989,761 |
| 28 |
$41,583,560 |
$15,346,248
$0 |
$26,237,312 |
| 29 |
$43,662,960 |
$16,115,626
$0 |
$27,547,334 |
| 30 |
$45,845,960 |
$16,923,336
$0 |
$28,922,624 |
|
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