The jackpot for the MEGA Millions draw on Tue Nov 26, 2024, is projected to be $489 Million, with an option for a cash payout of $225.3 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 Nov 26, 2024 |
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Draw Date | Tue Nov 26, 2024 | Projected Jackpot | $489,000,000 | Cash Value | $225,300,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $225,300,000 | Federal Tax(24%) | $54,072,000 | Additional Federal Tax | $29,249,330 | State Tax(6.75%) | $15,207,750 | Net Lumpsum Payment | $126,770,920 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$7,359,939 |
$2,683,508 $496,796 |
$4,179,635 |
2 |
$7,728,156 |
$2,819,748 $521,651 |
$4,386,757 |
3 |
$8,114,466 |
$2,962,683 $547,726 |
$4,604,057 |
4 |
$8,520,336 |
$3,112,855 $575,123 |
$4,832,358 |
5 |
$8,946,255 |
$3,270,445 $603,872 |
$5,071,938 |
6 |
$9,393,690 |
$3,435,996 $634,074 |
$5,323,620 |
7 |
$9,863,130 |
$3,609,688 $665,761 |
$5,587,681 |
8 |
$10,356,531 |
$3,792,247 $699,066 |
$5,865,218 |
9 |
$10,874,382 |
$3,983,852 $734,021 |
$6,156,509 |
10 |
$11,418,150 |
$4,185,046 $770,725 |
$6,462,379 |
11 |
$11,988,813 |
$4,396,191 $809,245 |
$6,783,377 |
12 |
$12,588,327 |
$4,618,011 $849,712 |
$7,120,604 |
13 |
$13,217,670 |
$4,850,868 $892,193 |
$7,474,609 |
14 |
$13,878,798 |
$5,095,486 $936,819 |
$7,846,493 |
15 |
$14,572,689 |
$5,352,225 $983,657 |
$8,236,807 |
16 |
$15,301,299 |
$5,621,811 $1,032,838 |
$8,646,650 |
17 |
$16,066,095 |
$5,904,786 $1,084,461 |
$9,076,848 |
18 |
$16,869,522 |
$6,202,054 $1,138,693 |
$9,528,775 |
19 |
$17,713,047 |
$6,514,158 $1,195,631 |
$10,003,258 |
20 |
$18,598,626 |
$6,841,822 $1,255,407 |
$10,501,397 |
21 |
$19,528,704 |
$7,185,951 $1,318,188 |
$11,024,565 |
22 |
$20,505,237 |
$7,547,268 $1,384,103 |
$11,573,866 |
23 |
$21,530,181 |
$7,926,497 $1,453,287 |
$12,150,397 |
24 |
$22,606,959 |
$8,324,905 $1,525,970 |
$12,756,084 |
25 |
$23,737,038 |
$8,743,034 $1,602,250 |
$13,391,754 |
26 |
$24,924,330 |
$9,182,332 $1,682,392 |
$14,059,606 |
27 |
$26,170,302 |
$9,643,342 $1,766,495 |
$14,760,465 |
28 |
$27,478,866 |
$10,127,511 $1,854,823 |
$15,496,532 |
29 |
$28,852,956 |
$10,635,924 $1,947,575 |
$16,269,457 |
30 |
$30,295,506 |
$11,169,668 $2,044,947 |
$17,080,891 |
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