The jackpot for the MEGA Millions draw on Tue Sep 10, 2024, is projected to be $800 Million, with an option for a cash payout of $401.8 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 Maine residents, the state will deduct 5% from your lottery earnings.
| Maine MEGA Millions Jackpot/Cash Option for Tue Sep 10, 2024 |
|---|
| Draw Date | Tue Sep 10, 2024 | | Projected Jackpot | $800,000,000 | | Cash Value | $401,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $401,800,000 | | Federal Tax(24%) | $96,432,000 | | Additional Federal Tax | $52,194,330 | | State Tax(5%) | $20,090,000 | | Net Lumpsum Payment | $233,083,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$12,040,800 |
$4,415,426
$602,040 |
$7,023,334 |
| 2 |
$12,643,200 |
$4,638,314
$632,160 |
$7,372,726 |
| 3 |
$13,275,200 |
$4,872,154
$663,760 |
$7,739,286 |
| 4 |
$13,939,200 |
$5,117,834
$696,960 |
$8,124,406 |
| 5 |
$14,636,000 |
$5,375,650
$731,800 |
$8,528,550 |
| 6 |
$15,368,000 |
$5,646,490
$768,400 |
$8,953,110 |
| 7 |
$16,136,000 |
$5,930,650
$806,800 |
$9,398,550 |
| 8 |
$16,943,200 |
$6,229,314
$847,160 |
$9,866,726 |
| 9 |
$17,790,400 |
$6,542,778
$889,520 |
$10,358,102 |
| 10 |
$18,680,000 |
$6,871,930
$934,000 |
$10,874,070 |
| 11 |
$19,613,600 |
$7,217,362
$980,680 |
$11,415,558 |
| 12 |
$20,594,400 |
$7,580,258
$1,029,720 |
$11,984,422 |
| 13 |
$21,624,000 |
$7,961,210
$1,081,200 |
$12,581,590 |
| 14 |
$22,705,600 |
$8,361,402
$1,135,280 |
$13,208,918 |
| 15 |
$23,840,800 |
$8,781,426
$1,192,040 |
$13,867,334 |
| 16 |
$25,032,800 |
$9,222,466
$1,251,640 |
$14,558,694 |
| 17 |
$26,284,000 |
$9,685,410
$1,314,200 |
$15,284,390 |
| 18 |
$27,598,400 |
$10,171,738
$1,379,920 |
$16,046,742 |
| 19 |
$28,978,400 |
$10,682,338
$1,448,920 |
$16,847,142 |
| 20 |
$30,427,200 |
$11,218,394
$1,521,360 |
$17,687,446 |
| 21 |
$31,948,800 |
$11,781,386
$1,597,440 |
$18,569,974 |
| 22 |
$33,546,400 |
$12,372,498
$1,677,320 |
$19,496,582 |
| 23 |
$35,223,200 |
$12,992,914
$1,761,160 |
$20,469,126 |
| 24 |
$36,984,800 |
$13,644,706
$1,849,240 |
$21,490,854 |
| 25 |
$38,833,600 |
$14,328,762
$1,941,680 |
$22,563,158 |
| 26 |
$40,776,000 |
$15,047,450
$2,038,800 |
$23,689,750 |
| 27 |
$42,814,400 |
$15,801,658
$2,140,720 |
$24,872,022 |
| 28 |
$44,955,200 |
$16,593,754
$2,247,760 |
$26,113,686 |
| 29 |
$47,203,200 |
$17,425,514
$2,360,160 |
$27,417,526 |
| 30 |
$49,563,200 |
$18,298,714
$2,478,160 |
$28,786,326 |
|
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