Jackpot Analysis North Carolina Mega Millions

Jackpot Analysis for North Carolina Mega Millions
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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.

North Carolina MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024
Draw DateFri 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(4.75%)$9,956,000
Net Lumpsum Payment$122,131,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $6,818,103 $2,483,028
$323,860
$4,011,215
2 $7,159,212 $2,609,239
$340,063
$4,209,910
3 $7,517,082 $2,741,651
$357,061
$4,418,370
4 $7,893,072 $2,880,767
$374,921
$4,637,384
5 $8,287,635 $3,026,755
$393,663
$4,867,217
6 $8,702,130 $3,180,118
$413,351
$5,108,661
7 $9,137,010 $3,341,024
$434,008
$5,361,978
8 $9,594,087 $3,510,143
$455,719
$5,628,225
9 $10,073,814 $3,687,642
$478,506
$5,907,666
10 $10,577,550 $3,874,024
$502,434
$6,201,092
11 $11,106,201 $4,069,625
$527,545
$6,509,031
12 $11,661,579 $4,275,115
$553,925
$6,832,539
13 $12,244,590 $4,490,829
$581,618
$7,172,143
14 $12,857,046 $4,717,437
$610,710
$7,528,899
15 $13,499,853 $4,955,276
$641,243
$7,903,334
16 $14,174,823 $5,205,015
$673,304
$8,296,504
17 $14,883,315 $5,467,157
$706,957
$8,709,201
18 $15,627,594 $5,742,540
$742,311
$9,142,743
19 $16,409,019 $6,031,667
$779,428
$9,597,924
20 $17,229,402 $6,335,209
$818,397
$10,075,796
21 $18,091,008 $6,654,003
$859,323
$10,577,682
22 $18,995,649 $6,988,721
$902,293
$11,104,635
23 $19,945,137 $7,340,031
$947,394
$11,657,712
24 $20,942,643 $7,709,108
$994,776
$12,238,759
25 $21,989,526 $8,096,455
$1,044,502
$12,848,569
26 $23,089,410 $8,503,412
$1,096,747
$13,489,251
27 $24,243,654 $8,930,482
$1,151,574
$14,161,598
28 $25,455,882 $9,379,007
$1,209,154
$14,867,721
29 $26,728,812 $9,849,991
$1,269,619
$15,609,202
30 $28,065,162 $10,344,440
$1,333,095
$16,387,627