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 New Jersey residents, the state will deduct 8% from your lottery earnings.
| New Jersey MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024 |
|---|
| Draw Date | Fri 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(8%) | $16,768,000 | | Net Lumpsum Payment | $115,319,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$545,448 |
$3,789,627 |
| 2 |
$7,159,212 |
$2,609,239
$572,737 |
$3,977,236 |
| 3 |
$7,517,082 |
$2,741,651
$601,367 |
$4,174,064 |
| 4 |
$7,893,072 |
$2,880,767
$631,446 |
$4,380,859 |
| 5 |
$8,287,635 |
$3,026,755
$663,011 |
$4,597,869 |
| 6 |
$8,702,130 |
$3,180,118
$696,170 |
$4,825,842 |
| 7 |
$9,137,010 |
$3,341,024
$730,961 |
$5,065,025 |
| 8 |
$9,594,087 |
$3,510,143
$767,527 |
$5,316,417 |
| 9 |
$10,073,814 |
$3,687,642
$805,905 |
$5,580,267 |
| 10 |
$10,577,550 |
$3,874,024
$846,204 |
$5,857,322 |
| 11 |
$11,106,201 |
$4,069,625
$888,496 |
$6,148,080 |
| 12 |
$11,661,579 |
$4,275,115
$932,926 |
$6,453,538 |
| 13 |
$12,244,590 |
$4,490,829
$979,567 |
$6,774,194 |
| 14 |
$12,857,046 |
$4,717,437
$1,028,564 |
$7,111,045 |
| 15 |
$13,499,853 |
$4,955,276
$1,079,988 |
$7,464,589 |
| 16 |
$14,174,823 |
$5,205,015
$1,133,986 |
$7,835,822 |
| 17 |
$14,883,315 |
$5,467,157
$1,190,665 |
$8,225,493 |
| 18 |
$15,627,594 |
$5,742,540
$1,250,208 |
$8,634,846 |
| 19 |
$16,409,019 |
$6,031,667
$1,312,722 |
$9,064,630 |
| 20 |
$17,229,402 |
$6,335,209
$1,378,352 |
$9,515,841 |
| 21 |
$18,091,008 |
$6,654,003
$1,447,281 |
$9,989,724 |
| 22 |
$18,995,649 |
$6,988,721
$1,519,652 |
$10,487,276 |
| 23 |
$19,945,137 |
$7,340,031
$1,595,611 |
$11,009,495 |
| 24 |
$20,942,643 |
$7,709,108
$1,675,411 |
$11,558,124 |
| 25 |
$21,989,526 |
$8,096,455
$1,759,162 |
$12,133,909 |
| 26 |
$23,089,410 |
$8,503,412
$1,847,153 |
$12,738,845 |
| 27 |
$24,243,654 |
$8,930,482
$1,939,492 |
$13,373,680 |
| 28 |
$25,455,882 |
$9,379,007
$2,036,471 |
$14,040,404 |
| 29 |
$26,728,812 |
$9,849,991
$2,138,305 |
$14,740,516 |
| 30 |
$28,065,162 |
$10,344,440
$2,245,213 |
$15,475,509 |
|
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