The jackpot for the MEGA Millions draw on Tue Jul 2, 2024, is projected to be $137 Million, with an option for a cash payout of $64.5 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 Tue Jul 2, 2024 |
|---|
| Draw Date | Tue Jul 2, 2024 | | Projected Jackpot | $137,000,000 | | Cash Value | $64,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $64,500,000 | | Federal Tax(24%) | $15,480,000 | | Additional Federal Tax | $8,345,330 | | State Tax(10.75%) | $6,933,750 | | Net Lumpsum Payment | $33,740,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,061,987 |
$723,266
$221,664 |
$1,117,057 |
| 2 |
$2,165,148 |
$761,435
$232,753 |
$1,170,960 |
| 3 |
$2,273,378 |
$801,480
$244,388 |
$1,227,510 |
| 4 |
$2,387,088 |
$843,553
$256,612 |
$1,286,923 |
| 5 |
$2,506,415 |
$887,704
$269,440 |
$1,349,271 |
| 6 |
$2,631,770 |
$934,085
$282,915 |
$1,414,770 |
| 7 |
$2,763,290 |
$982,748
$297,054 |
$1,483,488 |
| 8 |
$2,901,523 |
$1,033,894
$311,914 |
$1,555,715 |
| 9 |
$3,046,606 |
$1,087,575
$327,510 |
$1,631,521 |
| 10 |
$3,198,950 |
$1,143,942
$343,887 |
$1,711,121 |
| 11 |
$3,358,829 |
$1,203,097
$361,074 |
$1,794,658 |
| 12 |
$3,526,791 |
$1,265,243
$379,130 |
$1,882,418 |
| 13 |
$3,703,110 |
$1,330,481
$398,084 |
$1,974,545 |
| 14 |
$3,888,334 |
$1,399,014
$417,996 |
$2,071,324 |
| 15 |
$4,082,737 |
$1,470,943
$438,894 |
$2,172,900 |
| 16 |
$4,286,867 |
$1,546,471
$460,838 |
$2,279,558 |
| 17 |
$4,501,135 |
$1,625,750
$483,872 |
$2,391,513 |
| 18 |
$4,726,226 |
$1,709,034
$508,069 |
$2,509,123 |
| 19 |
$4,962,551 |
$1,796,474
$533,474 |
$2,632,603 |
| 20 |
$5,210,658 |
$1,888,274
$560,146 |
$2,762,238 |
| 21 |
$5,471,232 |
$1,984,686
$588,157 |
$2,898,389 |
| 22 |
$5,744,821 |
$2,085,914
$617,568 |
$3,041,339 |
| 23 |
$6,031,973 |
$2,192,160
$648,437 |
$3,191,376 |
| 24 |
$6,333,647 |
$2,303,780
$680,867 |
$3,349,000 |
| 25 |
$6,650,254 |
$2,420,924
$714,902 |
$3,514,428 |
| 26 |
$6,982,890 |
$2,544,000
$750,661 |
$3,688,229 |
| 27 |
$7,331,966 |
$2,673,158
$788,186 |
$3,870,622 |
| 28 |
$7,698,578 |
$2,808,804
$827,597 |
$4,062,177 |
| 29 |
$8,083,548 |
$2,951,243
$868,981 |
$4,263,324 |
| 30 |
$8,487,698 |
$3,100,779
$912,428 |
$4,474,491 |
|
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