The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
Indiana MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024 |
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Draw Date | Fri Nov 22, 2024 | Projected Jackpot | $453,000,000 | Cash Value | $209,600,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $209,600,000 | Federal Tax(24%) | $50,304,000 | Additional Federal Tax | $27,208,330 | State Tax(3.15%) | $6,602,400 | Net Lumpsum Payment | $125,485,270 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$6,818,103 |
$2,483,028 $214,770 |
$4,120,305 |
2 |
$7,159,212 |
$2,609,239 $225,515 |
$4,324,458 |
3 |
$7,517,082 |
$2,741,651 $236,788 |
$4,538,643 |
4 |
$7,893,072 |
$2,880,767 $248,632 |
$4,763,673 |
5 |
$8,287,635 |
$3,026,755 $261,061 |
$4,999,819 |
6 |
$8,702,130 |
$3,180,118 $274,117 |
$5,247,895 |
7 |
$9,137,010 |
$3,341,024 $287,816 |
$5,508,170 |
8 |
$9,594,087 |
$3,510,143 $302,214 |
$5,781,730 |
9 |
$10,073,814 |
$3,687,642 $317,325 |
$6,068,847 |
10 |
$10,577,550 |
$3,874,024 $333,193 |
$6,370,333 |
11 |
$11,106,201 |
$4,069,625 $349,845 |
$6,686,731 |
12 |
$11,661,579 |
$4,275,115 $367,340 |
$7,019,124 |
13 |
$12,244,590 |
$4,490,829 $385,705 |
$7,368,056 |
14 |
$12,857,046 |
$4,717,437 $404,997 |
$7,734,612 |
15 |
$13,499,853 |
$4,955,276 $425,245 |
$8,119,332 |
16 |
$14,174,823 |
$5,205,015 $446,507 |
$8,523,301 |
17 |
$14,883,315 |
$5,467,157 $468,824 |
$8,947,334 |
18 |
$15,627,594 |
$5,742,540 $492,269 |
$9,392,785 |
19 |
$16,409,019 |
$6,031,667 $516,884 |
$9,860,468 |
20 |
$17,229,402 |
$6,335,209 $542,726 |
$10,351,467 |
21 |
$18,091,008 |
$6,654,003 $569,867 |
$10,867,138 |
22 |
$18,995,649 |
$6,988,721 $598,363 |
$11,408,565 |
23 |
$19,945,137 |
$7,340,031 $628,272 |
$11,976,834 |
24 |
$20,942,643 |
$7,709,108 $659,693 |
$12,573,842 |
25 |
$21,989,526 |
$8,096,455 $692,670 |
$13,200,401 |
26 |
$23,089,410 |
$8,503,412 $727,316 |
$13,858,682 |
27 |
$24,243,654 |
$8,930,482 $763,675 |
$14,549,497 |
28 |
$25,455,882 |
$9,379,007 $801,860 |
$15,275,015 |
29 |
$26,728,812 |
$9,849,991 $841,958 |
$16,036,863 |
30 |
$28,065,162 |
$10,344,440 $884,053 |
$16,836,669 |
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