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 |
|---|
| Draw Date | Tue Sep 10, 2024 | | Projected Jackpot | $800,000,000 | | Cash Value | $401,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| 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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