The jackpot for the MEGA Millions draw on Tue Dec 24, 2024, is projected to be $944 Million, with an option for a cash payout of $429.4 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio MEGA Millions Jackpot/Cash Option for Tue Dec 24, 2024 |
|---|
| Draw Date | Tue Dec 24, 2024 | | Projected Jackpot | $944,000,000 | | Cash Value | $429,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $429,400,000 | | Federal Tax(24%) | $103,056,000 | | Additional Federal Tax | $55,782,330 | | State Tax(3.99%) | $17,133,060 | | Net Lumpsum Payment | $253,428,610 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,208,144 |
$5,217,344
$566,905 |
$8,423,895 |
| 2 |
$14,918,976 |
$5,480,352
$595,267 |
$8,843,357 |
| 3 |
$15,664,736 |
$5,756,283
$625,023 |
$9,283,430 |
| 4 |
$16,448,256 |
$6,046,185
$656,285 |
$9,745,786 |
| 5 |
$17,270,480 |
$6,350,408
$689,092 |
$10,230,980 |
| 6 |
$18,134,240 |
$6,669,999
$723,556 |
$10,740,685 |
| 7 |
$19,040,480 |
$7,005,308
$759,715 |
$11,275,457 |
| 8 |
$19,992,976 |
$7,357,732
$797,720 |
$11,837,524 |
| 9 |
$20,992,672 |
$7,727,619
$837,608 |
$12,427,445 |
| 10 |
$22,042,400 |
$8,116,018
$879,492 |
$13,046,890 |
| 11 |
$23,144,048 |
$8,523,628
$923,448 |
$13,696,972 |
| 12 |
$24,301,392 |
$8,951,845
$969,626 |
$14,379,921 |
| 13 |
$25,516,320 |
$9,401,369
$1,018,101 |
$15,096,850 |
| 14 |
$26,792,608 |
$9,873,595
$1,069,025 |
$15,849,988 |
| 15 |
$28,132,144 |
$10,369,224
$1,122,473 |
$16,640,447 |
| 16 |
$29,538,704 |
$10,889,651
$1,178,594 |
$17,470,459 |
| 17 |
$31,015,120 |
$11,435,925
$1,237,503 |
$18,341,692 |
| 18 |
$32,566,112 |
$12,009,792
$1,299,388 |
$19,256,932 |
| 19 |
$34,194,512 |
$12,612,300
$1,364,361 |
$20,217,851 |
| 20 |
$35,904,096 |
$13,244,846
$1,432,573 |
$21,226,677 |
| 21 |
$37,699,584 |
$13,909,176
$1,504,213 |
$22,286,195 |
| 22 |
$39,584,752 |
$14,606,689
$1,579,432 |
$23,398,631 |
| 23 |
$41,563,376 |
$15,338,780
$1,658,379 |
$24,566,217 |
| 24 |
$43,642,064 |
$16,107,894
$1,741,318 |
$25,792,852 |
| 25 |
$45,823,648 |
$16,915,080
$1,828,364 |
$27,080,204 |
| 26 |
$48,115,680 |
$17,763,132
$1,919,816 |
$28,432,732 |
| 27 |
$50,520,992 |
$18,653,097
$2,015,788 |
$29,852,107 |
| 28 |
$53,047,136 |
$19,587,771
$2,116,581 |
$31,342,784 |
| 29 |
$55,699,776 |
$20,569,248
$2,222,421 |
$32,908,107 |
| 30 |
$58,484,576 |
$21,599,624
$2,333,535 |
$34,551,417 |
|
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