The jackpot for the MEGA Millions draw on Fri Nov 1, 2024, is projected to be $281 Million, with an option for a cash payout of $129.8 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Fri Nov 1, 2024 |
|---|
| Draw Date | Fri Nov 1, 2024 | | Projected Jackpot | $281,000,000 | | Cash Value | $129,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $129,800,000 | | Federal Tax(24%) | $31,152,000 | | Additional Federal Tax | $16,834,330 | | State Tax(10.75%) | $13,953,500 | | Net Lumpsum Payment | $67,860,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,229,331 |
$1,525,183
$454,653 |
$2,249,495 |
| 2 |
$4,440,924 |
$1,603,472
$477,399 |
$2,360,053 |
| 3 |
$4,662,914 |
$1,685,609
$501,263 |
$2,476,042 |
| 4 |
$4,896,144 |
$1,771,904
$526,335 |
$2,597,905 |
| 5 |
$5,140,895 |
$1,862,462
$552,646 |
$2,725,787 |
| 6 |
$5,398,010 |
$1,957,594
$580,286 |
$2,860,130 |
| 7 |
$5,667,770 |
$2,057,405
$609,285 |
$3,001,080 |
| 8 |
$5,951,299 |
$2,162,311
$639,765 |
$3,149,223 |
| 9 |
$6,248,878 |
$2,272,415
$671,754 |
$3,304,709 |
| 10 |
$6,561,350 |
$2,388,030
$705,345 |
$3,467,975 |
| 11 |
$6,889,277 |
$2,509,363
$740,597 |
$3,639,317 |
| 12 |
$7,233,783 |
$2,636,830
$777,632 |
$3,819,321 |
| 13 |
$7,595,430 |
$2,770,639
$816,509 |
$4,008,282 |
| 14 |
$7,975,342 |
$2,911,207
$857,349 |
$4,206,786 |
| 15 |
$8,374,081 |
$3,058,740
$900,214 |
$4,415,127 |
| 16 |
$8,792,771 |
$3,213,656
$945,223 |
$4,633,892 |
| 17 |
$9,232,255 |
$3,376,265
$992,467 |
$4,863,523 |
| 18 |
$9,693,938 |
$3,547,087
$1,042,098 |
$5,104,753 |
| 19 |
$10,178,663 |
$3,726,436
$1,094,206 |
$5,358,021 |
| 20 |
$10,687,554 |
$3,914,725
$1,148,912 |
$5,623,917 |
| 21 |
$11,222,016 |
$4,112,476
$1,206,367 |
$5,903,173 |
| 22 |
$11,783,173 |
$4,320,104
$1,266,691 |
$6,196,378 |
| 23 |
$12,372,149 |
$4,538,026
$1,330,006 |
$6,504,117 |
| 24 |
$12,990,911 |
$4,766,967
$1,396,523 |
$6,827,421 |
| 25 |
$13,640,302 |
$5,007,242
$1,466,332 |
$7,166,728 |
| 26 |
$14,322,570 |
$5,259,681
$1,539,676 |
$7,523,213 |
| 27 |
$15,038,558 |
$5,524,597
$1,616,645 |
$7,897,316 |
| 28 |
$15,790,514 |
$5,802,821
$1,697,480 |
$8,290,213 |
| 29 |
$16,580,124 |
$6,094,976
$1,782,363 |
$8,702,785 |
| 30 |
$17,409,074 |
$6,401,688
$1,871,475 |
$9,135,911 |
|
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