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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $209,600,000 | | Federal Tax(24%) | $50,304,000 | | Additional Federal Tax | $27,208,330 | | State Tax(8.95%) | $18,759,200 | | Net Lumpsum Payment | $113,328,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$610,220 |
$3,724,855 |
| 2 |
$7,159,212 |
$2,609,239
$640,749 |
$3,909,224 |
| 3 |
$7,517,082 |
$2,741,651
$672,779 |
$4,102,652 |
| 4 |
$7,893,072 |
$2,880,767
$706,430 |
$4,305,875 |
| 5 |
$8,287,635 |
$3,026,755
$741,743 |
$4,519,137 |
| 6 |
$8,702,130 |
$3,180,118
$778,841 |
$4,743,171 |
| 7 |
$9,137,010 |
$3,341,024
$817,762 |
$4,978,224 |
| 8 |
$9,594,087 |
$3,510,143
$858,671 |
$5,225,273 |
| 9 |
$10,073,814 |
$3,687,642
$901,606 |
$5,484,566 |
| 10 |
$10,577,550 |
$3,874,024
$946,691 |
$5,756,835 |
| 11 |
$11,106,201 |
$4,069,625
$994,005 |
$6,042,571 |
| 12 |
$11,661,579 |
$4,275,115
$1,043,711 |
$6,342,753 |
| 13 |
$12,244,590 |
$4,490,829
$1,095,891 |
$6,657,870 |
| 14 |
$12,857,046 |
$4,717,437
$1,150,706 |
$6,988,903 |
| 15 |
$13,499,853 |
$4,955,276
$1,208,237 |
$7,336,340 |
| 16 |
$14,174,823 |
$5,205,015
$1,268,647 |
$7,701,161 |
| 17 |
$14,883,315 |
$5,467,157
$1,332,057 |
$8,084,101 |
| 18 |
$15,627,594 |
$5,742,540
$1,398,670 |
$8,486,384 |
| 19 |
$16,409,019 |
$6,031,667
$1,468,607 |
$8,908,745 |
| 20 |
$17,229,402 |
$6,335,209
$1,542,031 |
$9,352,162 |
| 21 |
$18,091,008 |
$6,654,003
$1,619,145 |
$9,817,860 |
| 22 |
$18,995,649 |
$6,988,721
$1,700,111 |
$10,306,817 |
| 23 |
$19,945,137 |
$7,340,031
$1,785,090 |
$10,820,016 |
| 24 |
$20,942,643 |
$7,709,108
$1,874,367 |
$11,359,168 |
| 25 |
$21,989,526 |
$8,096,455
$1,968,063 |
$11,925,008 |
| 26 |
$23,089,410 |
$8,503,412
$2,066,502 |
$12,519,496 |
| 27 |
$24,243,654 |
$8,930,482
$2,169,807 |
$13,143,365 |
| 28 |
$25,455,882 |
$9,379,007
$2,278,301 |
$13,798,574 |
| 29 |
$26,728,812 |
$9,849,991
$2,392,229 |
$14,486,592 |
| 30 |
$28,065,162 |
$10,344,440
$2,511,832 |
$15,208,890 |
|
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