The jackpot for the MEGA Millions draw on Tue Dec 3, 2024, is projected to be $541 Million, with an option for a cash payout of $257.6 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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma MEGA Millions Jackpot/Cash Option for Tue Dec 3, 2024 |
|---|
| Draw Date | Tue Dec 3, 2024 | | Projected Jackpot | $541,000,000 | | Cash Value | $257,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $257,600,000 | | Federal Tax(24%) | $61,824,000 | | Additional Federal Tax | $33,448,330 | | State Tax(4.75%) | $12,236,000 | | Net Lumpsum Payment | $150,091,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,142,591 |
$2,973,089
$386,773 |
$4,782,729 |
| 2 |
$8,549,964 |
$3,123,817
$406,123 |
$5,020,024 |
| 3 |
$8,977,354 |
$3,281,951
$426,424 |
$5,268,979 |
| 4 |
$9,426,384 |
$3,448,092
$447,753 |
$5,530,539 |
| 5 |
$9,897,595 |
$3,622,441
$470,136 |
$5,805,018 |
| 6 |
$10,392,610 |
$3,805,596
$493,649 |
$6,093,365 |
| 7 |
$10,911,970 |
$3,997,759
$518,319 |
$6,395,892 |
| 8 |
$11,457,839 |
$4,199,731
$544,247 |
$6,713,861 |
| 9 |
$12,030,758 |
$4,411,711
$571,461 |
$7,047,586 |
| 10 |
$12,632,350 |
$4,634,300
$600,037 |
$7,398,013 |
| 11 |
$13,263,697 |
$4,867,898
$630,026 |
$7,765,773 |
| 12 |
$13,926,963 |
$5,113,307
$661,531 |
$8,152,125 |
| 13 |
$14,623,230 |
$5,370,925
$694,603 |
$8,557,702 |
| 14 |
$15,354,662 |
$5,641,555
$729,346 |
$8,983,761 |
| 15 |
$16,122,341 |
$5,925,597
$765,811 |
$9,430,933 |
| 16 |
$16,928,431 |
$6,223,850
$804,100 |
$9,900,481 |
| 17 |
$17,774,555 |
$6,536,916
$844,291 |
$10,393,348 |
| 18 |
$18,663,418 |
$6,865,795
$886,512 |
$10,911,111 |
| 19 |
$19,596,643 |
$7,211,088
$930,841 |
$11,454,714 |
| 20 |
$20,576,394 |
$7,573,596
$977,379 |
$12,025,419 |
| 21 |
$21,605,376 |
$7,954,320
$1,026,255 |
$12,624,801 |
| 22 |
$22,685,753 |
$8,354,059
$1,077,573 |
$13,254,121 |
| 23 |
$23,819,689 |
$8,773,615
$1,131,435 |
$13,914,639 |
| 24 |
$25,010,971 |
$9,214,390
$1,188,021 |
$14,608,560 |
| 25 |
$26,261,222 |
$9,676,983
$1,247,408 |
$15,336,831 |
| 26 |
$27,574,770 |
$10,162,995
$1,309,802 |
$16,101,973 |
| 27 |
$28,953,238 |
$10,673,028
$1,375,279 |
$16,904,931 |
| 28 |
$30,400,954 |
$11,208,683
$1,444,045 |
$17,748,226 |
| 29 |
$31,921,164 |
$11,771,161
$1,516,255 |
$18,633,748 |
| 30 |
$33,517,114 |
$12,361,663
$1,592,063 |
$19,563,388 |
|
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