Jackpot Analysis Delaware Mega Millions

Jackpot Analysis for Delaware Mega Millions
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 DateTue 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