The jackpot for the MEGA Millions draw on Tue Dec 3, 2024, is projected to be $541 Million, with an option for a cash payout of $257.6 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 Maine residents, the state will deduct 5% from your lottery earnings.
| Maine MEGA Millions Jackpot/Cash Option for Tue Dec 3, 2024 |
|---|
| Draw Date | Tue Dec 3, 2024 | | Projected Jackpot | $541,000,000 | | Cash Value | $257,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $257,600,000 | | Federal Tax(24%) | $61,824,000 | | Additional Federal Tax | $33,448,330 | | State Tax(5%) | $12,880,000 | | Net Lumpsum Payment | $149,447,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,142,591 |
$2,973,089
$407,130 |
$4,762,372 |
| 2 |
$8,549,964 |
$3,123,817
$427,498 |
$4,998,649 |
| 3 |
$8,977,354 |
$3,281,951
$448,868 |
$5,246,535 |
| 4 |
$9,426,384 |
$3,448,092
$471,319 |
$5,506,973 |
| 5 |
$9,897,595 |
$3,622,441
$494,880 |
$5,780,274 |
| 6 |
$10,392,610 |
$3,805,596
$519,631 |
$6,067,383 |
| 7 |
$10,911,970 |
$3,997,759
$545,599 |
$6,368,612 |
| 8 |
$11,457,839 |
$4,199,731
$572,892 |
$6,685,216 |
| 9 |
$12,030,758 |
$4,411,711
$601,538 |
$7,017,509 |
| 10 |
$12,632,350 |
$4,634,300
$631,618 |
$7,366,432 |
| 11 |
$13,263,697 |
$4,867,898
$663,185 |
$7,732,614 |
| 12 |
$13,926,963 |
$5,113,307
$696,348 |
$8,117,308 |
| 13 |
$14,623,230 |
$5,370,925
$731,162 |
$8,521,143 |
| 14 |
$15,354,662 |
$5,641,555
$767,733 |
$8,945,374 |
| 15 |
$16,122,341 |
$5,925,597
$806,117 |
$9,390,627 |
| 16 |
$16,928,431 |
$6,223,850
$846,422 |
$9,858,159 |
| 17 |
$17,774,555 |
$6,536,916
$888,728 |
$10,348,911 |
| 18 |
$18,663,418 |
$6,865,795
$933,171 |
$10,864,452 |
| 19 |
$19,596,643 |
$7,211,088
$979,832 |
$11,405,723 |
| 20 |
$20,576,394 |
$7,573,596
$1,028,820 |
$11,973,978 |
| 21 |
$21,605,376 |
$7,954,320
$1,080,269 |
$12,570,787 |
| 22 |
$22,685,753 |
$8,354,059
$1,134,288 |
$13,197,406 |
| 23 |
$23,819,689 |
$8,773,615
$1,190,984 |
$13,855,090 |
| 24 |
$25,010,971 |
$9,214,390
$1,250,549 |
$14,546,032 |
| 25 |
$26,261,222 |
$9,676,983
$1,313,061 |
$15,271,178 |
| 26 |
$27,574,770 |
$10,162,995
$1,378,739 |
$16,033,036 |
| 27 |
$28,953,238 |
$10,673,028
$1,447,662 |
$16,832,548 |
| 28 |
$30,400,954 |
$11,208,683
$1,520,048 |
$17,672,223 |
| 29 |
$31,921,164 |
$11,771,161
$1,596,058 |
$18,553,945 |
| 30 |
$33,517,114 |
$12,361,663
$1,675,856 |
$19,479,595 |
|
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