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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
Louisiana MEGA Millions Jackpot/Cash Option for Tue Sep 10, 2024 |
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Draw Date | Tue Sep 10, 2024 | Projected Jackpot | $800,000,000 | Cash Value | $401,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $401,800,000 | Federal Tax(24%) | $96,432,000 | Additional Federal Tax | $52,194,330 | State Tax(4.75%) | $19,085,500 | Net Lumpsum Payment | $234,088,170 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$12,040,800 |
$4,415,426 $571,938 |
$7,053,436 |
2 |
$12,643,200 |
$4,638,314 $600,552 |
$7,404,334 |
3 |
$13,275,200 |
$4,872,154 $630,572 |
$7,772,474 |
4 |
$13,939,200 |
$5,117,834 $662,112 |
$8,159,254 |
5 |
$14,636,000 |
$5,375,650 $695,210 |
$8,565,140 |
6 |
$15,368,000 |
$5,646,490 $729,980 |
$8,991,530 |
7 |
$16,136,000 |
$5,930,650 $766,460 |
$9,438,890 |
8 |
$16,943,200 |
$6,229,314 $804,802 |
$9,909,084 |
9 |
$17,790,400 |
$6,542,778 $845,044 |
$10,402,578 |
10 |
$18,680,000 |
$6,871,930 $887,300 |
$10,920,770 |
11 |
$19,613,600 |
$7,217,362 $931,646 |
$11,464,592 |
12 |
$20,594,400 |
$7,580,258 $978,234 |
$12,035,908 |
13 |
$21,624,000 |
$7,961,210 $1,027,140 |
$12,635,650 |
14 |
$22,705,600 |
$8,361,402 $1,078,516 |
$13,265,682 |
15 |
$23,840,800 |
$8,781,426 $1,132,438 |
$13,926,936 |
16 |
$25,032,800 |
$9,222,466 $1,189,058 |
$14,621,276 |
17 |
$26,284,000 |
$9,685,410 $1,248,490 |
$15,350,100 |
18 |
$27,598,400 |
$10,171,738 $1,310,924 |
$16,115,738 |
19 |
$28,978,400 |
$10,682,338 $1,376,474 |
$16,919,588 |
20 |
$30,427,200 |
$11,218,394 $1,445,292 |
$17,763,514 |
21 |
$31,948,800 |
$11,781,386 $1,517,568 |
$18,649,846 |
22 |
$33,546,400 |
$12,372,498 $1,593,454 |
$19,580,448 |
23 |
$35,223,200 |
$12,992,914 $1,673,102 |
$20,557,184 |
24 |
$36,984,800 |
$13,644,706 $1,756,778 |
$21,583,316 |
25 |
$38,833,600 |
$14,328,762 $1,844,596 |
$22,660,242 |
26 |
$40,776,000 |
$15,047,450 $1,936,860 |
$23,791,690 |
27 |
$42,814,400 |
$15,801,658 $2,033,684 |
$24,979,058 |
28 |
$44,955,200 |
$16,593,754 $2,135,372 |
$26,226,074 |
29 |
$47,203,200 |
$17,425,514 $2,242,152 |
$27,535,534 |
30 |
$49,563,200 |
$18,298,714 $2,354,252 |
$28,910,234 |
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