The jackpot for the MEGA Millions draw on Tue Dec 24, 2024, is projected to be $944 Million, with an option for a cash payout of $429.4 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 Dec 24, 2024 |
|---|
| Draw Date | Tue Dec 24, 2024 | | Projected Jackpot | $944,000,000 | | Cash Value | $429,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $429,400,000 | | Federal Tax(24%) | $103,056,000 | | Additional Federal Tax | $55,782,330 | | State Tax(10.75%) | $46,160,500 | | Net Lumpsum Payment | $224,401,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,208,144 |
$5,217,344
$1,527,375 |
$7,463,425 |
| 2 |
$14,918,976 |
$5,480,352
$1,603,790 |
$7,834,834 |
| 3 |
$15,664,736 |
$5,756,283
$1,683,959 |
$8,224,494 |
| 4 |
$16,448,256 |
$6,046,185
$1,768,188 |
$8,633,883 |
| 5 |
$17,270,480 |
$6,350,408
$1,856,577 |
$9,063,495 |
| 6 |
$18,134,240 |
$6,669,999
$1,949,431 |
$9,514,810 |
| 7 |
$19,040,480 |
$7,005,308
$2,046,852 |
$9,988,320 |
| 8 |
$19,992,976 |
$7,357,732
$2,149,245 |
$10,485,999 |
| 9 |
$20,992,672 |
$7,727,619
$2,256,712 |
$11,008,341 |
| 10 |
$22,042,400 |
$8,116,018
$2,369,558 |
$11,556,824 |
| 11 |
$23,144,048 |
$8,523,628
$2,487,985 |
$12,132,435 |
| 12 |
$24,301,392 |
$8,951,845
$2,612,400 |
$12,737,147 |
| 13 |
$25,516,320 |
$9,401,369
$2,743,004 |
$13,371,947 |
| 14 |
$26,792,608 |
$9,873,595
$2,880,205 |
$14,038,808 |
| 15 |
$28,132,144 |
$10,369,224
$3,024,205 |
$14,738,715 |
| 16 |
$29,538,704 |
$10,889,651
$3,175,411 |
$15,473,642 |
| 17 |
$31,015,120 |
$11,435,925
$3,334,125 |
$16,245,070 |
| 18 |
$32,566,112 |
$12,009,792
$3,500,857 |
$17,055,463 |
| 19 |
$34,194,512 |
$12,612,300
$3,675,910 |
$17,906,302 |
| 20 |
$35,904,096 |
$13,244,846
$3,859,690 |
$18,799,560 |
| 21 |
$37,699,584 |
$13,909,176
$4,052,705 |
$19,737,703 |
| 22 |
$39,584,752 |
$14,606,689
$4,255,361 |
$20,722,702 |
| 23 |
$41,563,376 |
$15,338,780
$4,468,063 |
$21,756,533 |
| 24 |
$43,642,064 |
$16,107,894
$4,691,522 |
$22,842,648 |
| 25 |
$45,823,648 |
$16,915,080
$4,926,042 |
$23,982,526 |
| 26 |
$48,115,680 |
$17,763,132
$5,172,436 |
$25,180,112 |
| 27 |
$50,520,992 |
$18,653,097
$5,431,007 |
$26,436,888 |
| 28 |
$53,047,136 |
$19,587,771
$5,702,567 |
$27,756,798 |
| 29 |
$55,699,776 |
$20,569,248
$5,987,726 |
$29,142,802 |
| 30 |
$58,484,576 |
$21,599,624
$6,287,092 |
$30,597,860 |
|
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