The jackpot for the MEGA Millions draw on Tue Dec 24, 2024, is projected to be $944 Million, with an option for a cash payout of $429.4 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana MEGA Millions Jackpot/Cash Option for Tue Dec 24, 2024 |
|---|
| Draw Date | Tue Dec 24, 2024 | | Projected Jackpot | $944,000,000 | | Cash Value | $429,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $429,400,000 | | Federal Tax(24%) | $103,056,000 | | Additional Federal Tax | $55,782,330 | | State Tax(6.75%) | $28,984,500 | | Net Lumpsum Payment | $241,577,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,208,144 |
$5,217,344
$959,050 |
$8,031,750 |
| 2 |
$14,918,976 |
$5,480,352
$1,007,031 |
$8,431,593 |
| 3 |
$15,664,736 |
$5,756,283
$1,057,370 |
$8,851,083 |
| 4 |
$16,448,256 |
$6,046,185
$1,110,257 |
$9,291,814 |
| 5 |
$17,270,480 |
$6,350,408
$1,165,757 |
$9,754,315 |
| 6 |
$18,134,240 |
$6,669,999
$1,224,061 |
$10,240,180 |
| 7 |
$19,040,480 |
$7,005,308
$1,285,232 |
$10,749,940 |
| 8 |
$19,992,976 |
$7,357,732
$1,349,526 |
$11,285,718 |
| 9 |
$20,992,672 |
$7,727,619
$1,417,005 |
$11,848,048 |
| 10 |
$22,042,400 |
$8,116,018
$1,487,862 |
$12,438,520 |
| 11 |
$23,144,048 |
$8,523,628
$1,562,223 |
$13,058,197 |
| 12 |
$24,301,392 |
$8,951,845
$1,640,344 |
$13,709,203 |
| 13 |
$25,516,320 |
$9,401,369
$1,722,352 |
$14,392,599 |
| 14 |
$26,792,608 |
$9,873,595
$1,808,501 |
$15,110,512 |
| 15 |
$28,132,144 |
$10,369,224
$1,898,920 |
$15,864,000 |
| 16 |
$29,538,704 |
$10,889,651
$1,993,863 |
$16,655,190 |
| 17 |
$31,015,120 |
$11,435,925
$2,093,521 |
$17,485,674 |
| 18 |
$32,566,112 |
$12,009,792
$2,198,213 |
$18,358,107 |
| 19 |
$34,194,512 |
$12,612,300
$2,308,130 |
$19,274,082 |
| 20 |
$35,904,096 |
$13,244,846
$2,423,526 |
$20,235,724 |
| 21 |
$37,699,584 |
$13,909,176
$2,544,722 |
$21,245,686 |
| 22 |
$39,584,752 |
$14,606,689
$2,671,971 |
$22,306,092 |
| 23 |
$41,563,376 |
$15,338,780
$2,805,528 |
$23,419,068 |
| 24 |
$43,642,064 |
$16,107,894
$2,945,839 |
$24,588,331 |
| 25 |
$45,823,648 |
$16,915,080
$3,093,096 |
$25,815,472 |
| 26 |
$48,115,680 |
$17,763,132
$3,247,808 |
$27,104,740 |
| 27 |
$50,520,992 |
$18,653,097
$3,410,167 |
$28,457,728 |
| 28 |
$53,047,136 |
$19,587,771
$3,580,682 |
$29,878,683 |
| 29 |
$55,699,776 |
$20,569,248
$3,759,735 |
$31,370,793 |
| 30 |
$58,484,576 |
$21,599,624
$3,947,709 |
$32,937,243 |
|
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