The jackpot for the MEGA Millions draw on Fri Jan 24, 2025, is projected to be $28 Million, with an option for a cash payout of $12.5 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 Nebraska residents, the state will deduct 5% from your lottery earnings.
| Nebraska MEGA Millions Jackpot/Cash Option for Fri Jan 24, 2025 |
|---|
| Draw Date | Fri Jan 24, 2025 | | Projected Jackpot | $28,000,000 | | Cash Value | $12,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $12,500,000 | | Federal Tax(24%) | $3,000,000 | | Additional Federal Tax | $1,585,330 | | State Tax(5%) | $625,000 | | Net Lumpsum Payment | $7,289,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$421,428 |
$116,259
$21,071 |
$284,098 |
| 2 |
$442,512 |
$124,060
$22,126 |
$296,326 |
| 3 |
$464,632 |
$132,244
$23,232 |
$309,156 |
| 4 |
$487,872 |
$140,843
$24,394 |
$322,635 |
| 5 |
$512,260 |
$149,867
$25,613 |
$336,780 |
| 6 |
$537,880 |
$159,346
$26,894 |
$351,640 |
| 7 |
$564,760 |
$169,292
$28,238 |
$367,230 |
| 8 |
$593,012 |
$179,745
$29,651 |
$383,616 |
| 9 |
$622,664 |
$190,716
$31,133 |
$400,815 |
| 10 |
$653,800 |
$202,236
$32,690 |
$418,874 |
| 11 |
$686,476 |
$214,327
$34,324 |
$437,825 |
| 12 |
$720,804 |
$227,028
$36,040 |
$457,736 |
| 13 |
$756,840 |
$240,361
$37,842 |
$478,637 |
| 14 |
$794,696 |
$254,368
$39,735 |
$500,593 |
| 15 |
$834,428 |
$269,069
$41,721 |
$523,638 |
| 16 |
$876,148 |
$284,505
$43,807 |
$547,836 |
| 17 |
$919,940 |
$300,708
$45,997 |
$573,235 |
| 18 |
$965,944 |
$317,730
$48,297 |
$599,917 |
| 19 |
$1,014,244 |
$335,601
$50,712 |
$627,931 |
| 20 |
$1,064,952 |
$354,363
$53,248 |
$657,341 |
| 21 |
$1,118,208 |
$374,067
$55,910 |
$688,231 |
| 22 |
$1,174,124 |
$394,756
$58,706 |
$720,662 |
| 23 |
$1,232,812 |
$416,471
$61,641 |
$754,700 |
| 24 |
$1,294,468 |
$439,284
$64,723 |
$790,461 |
| 25 |
$1,359,176 |
$463,226
$67,959 |
$827,991 |
| 26 |
$1,427,160 |
$488,380
$71,358 |
$867,422 |
| 27 |
$1,498,504 |
$514,777
$74,925 |
$908,802 |
| 28 |
$1,573,432 |
$542,500
$78,672 |
$952,260 |
| 29 |
$1,652,112 |
$571,612
$82,606 |
$997,894 |
| 30 |
$1,734,712 |
$602,174
$86,736 |
$1,045,802 |
|
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