The jackpot for the MEGA Millions draw on Tue Nov 26, 2024, is projected to be $489 Million, with an option for a cash payout of $225.3 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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania MEGA Millions Jackpot/Cash Option for Tue Nov 26, 2024 |
|---|
| Draw Date | Tue Nov 26, 2024 | | Projected Jackpot | $489,000,000 | | Cash Value | $225,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $225,300,000 | | Federal Tax(24%) | $54,072,000 | | Additional Federal Tax | $29,249,330 | | State Tax(3.07%) | $6,916,710 | | Net Lumpsum Payment | $135,061,960 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,359,939 |
$2,683,508
$225,950 |
$4,450,481 |
| 2 |
$7,728,156 |
$2,819,748
$237,254 |
$4,671,154 |
| 3 |
$8,114,466 |
$2,962,683
$249,114 |
$4,902,669 |
| 4 |
$8,520,336 |
$3,112,855
$261,574 |
$5,145,907 |
| 5 |
$8,946,255 |
$3,270,445
$274,650 |
$5,401,160 |
| 6 |
$9,393,690 |
$3,435,996
$288,386 |
$5,669,308 |
| 7 |
$9,863,130 |
$3,609,688
$302,798 |
$5,950,644 |
| 8 |
$10,356,531 |
$3,792,247
$317,946 |
$6,246,338 |
| 9 |
$10,874,382 |
$3,983,852
$333,844 |
$6,556,686 |
| 10 |
$11,418,150 |
$4,185,046
$350,537 |
$6,882,567 |
| 11 |
$11,988,813 |
$4,396,191
$368,057 |
$7,224,565 |
| 12 |
$12,588,327 |
$4,618,011
$386,462 |
$7,583,854 |
| 13 |
$13,217,670 |
$4,850,868
$405,782 |
$7,961,020 |
| 14 |
$13,878,798 |
$5,095,486
$426,079 |
$8,357,233 |
| 15 |
$14,572,689 |
$5,352,225
$447,382 |
$8,773,082 |
| 16 |
$15,301,299 |
$5,621,811
$469,750 |
$9,209,738 |
| 17 |
$16,066,095 |
$5,904,786
$493,229 |
$9,668,080 |
| 18 |
$16,869,522 |
$6,202,054
$517,894 |
$10,149,574 |
| 19 |
$17,713,047 |
$6,514,158
$543,791 |
$10,655,098 |
| 20 |
$18,598,626 |
$6,841,822
$570,978 |
$11,185,826 |
| 21 |
$19,528,704 |
$7,185,951
$599,531 |
$11,743,222 |
| 22 |
$20,505,237 |
$7,547,268
$629,511 |
$12,328,458 |
| 23 |
$21,530,181 |
$7,926,497
$660,977 |
$12,942,707 |
| 24 |
$22,606,959 |
$8,324,905
$694,034 |
$13,588,020 |
| 25 |
$23,737,038 |
$8,743,034
$728,727 |
$14,265,277 |
| 26 |
$24,924,330 |
$9,182,332
$765,177 |
$14,976,821 |
| 27 |
$26,170,302 |
$9,643,342
$803,428 |
$15,723,532 |
| 28 |
$27,478,866 |
$10,127,511
$843,601 |
$16,507,754 |
| 29 |
$28,852,956 |
$10,635,924
$885,786 |
$17,331,246 |
| 30 |
$30,295,506 |
$11,169,668
$930,072 |
$18,195,766 |
|
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