The jackpot for the MEGA Millions draw on Tue Dec 31, 2024, is projected to be $20 Million, with an option for a cash payout of $9 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 Tue Dec 31, 2024 |
|---|
| Draw Date | Tue Dec 31, 2024 | | Projected Jackpot | $20,000,000 | | Cash Value | $9,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $9,000,000 | | Federal Tax(24%) | $2,160,000 | | Additional Federal Tax | $1,130,330 | | State Tax(5%) | $450,000 | | Net Lumpsum Payment | $5,259,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$301,020 |
$71,708
$15,051 |
$214,261 |
| 2 |
$316,080 |
$77,280
$15,804 |
$222,996 |
| 3 |
$331,880 |
$83,126
$16,594 |
$232,160 |
| 4 |
$348,480 |
$89,268
$17,424 |
$241,788 |
| 5 |
$365,900 |
$95,713
$18,295 |
$251,892 |
| 6 |
$384,200 |
$102,484
$19,210 |
$262,506 |
| 7 |
$403,400 |
$109,588
$20,170 |
$273,642 |
| 8 |
$423,580 |
$117,055
$21,179 |
$285,346 |
| 9 |
$444,760 |
$124,892
$22,238 |
$297,630 |
| 10 |
$467,000 |
$133,120
$23,350 |
$310,530 |
| 11 |
$490,340 |
$141,756
$24,517 |
$324,067 |
| 12 |
$514,860 |
$150,829
$25,743 |
$338,288 |
| 13 |
$540,600 |
$160,352
$27,030 |
$353,218 |
| 14 |
$567,640 |
$170,357
$28,382 |
$368,901 |
| 15 |
$596,020 |
$180,858
$29,801 |
$385,361 |
| 16 |
$625,820 |
$191,884
$31,291 |
$402,645 |
| 17 |
$657,100 |
$203,457
$32,855 |
$420,788 |
| 18 |
$689,960 |
$215,616
$34,498 |
$439,846 |
| 19 |
$724,460 |
$228,381
$36,223 |
$459,856 |
| 20 |
$760,680 |
$241,782
$38,034 |
$480,864 |
| 21 |
$798,720 |
$255,857
$39,936 |
$502,927 |
| 22 |
$838,660 |
$270,635
$41,933 |
$526,092 |
| 23 |
$880,580 |
$286,145
$44,029 |
$550,406 |
| 24 |
$924,620 |
$302,440
$46,231 |
$575,949 |
| 25 |
$970,840 |
$319,541
$48,542 |
$602,757 |
| 26 |
$1,019,400 |
$337,508
$50,970 |
$630,922 |
| 27 |
$1,070,360 |
$356,364
$53,518 |
$660,478 |
| 28 |
$1,123,880 |
$376,166
$56,194 |
$691,520 |
| 29 |
$1,180,080 |
$396,960
$59,004 |
$724,116 |
| 30 |
$1,239,080 |
$418,790
$61,954 |
$758,336 |
|
|
