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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island 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(5.99%) | $12,555,040 | | Net Lumpsum Payment | $119,532,630 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$408,404 |
$3,926,671 |
| 2 |
$7,159,212 |
$2,609,239
$428,837 |
$4,121,136 |
| 3 |
$7,517,082 |
$2,741,651
$450,273 |
$4,325,158 |
| 4 |
$7,893,072 |
$2,880,767
$472,795 |
$4,539,510 |
| 5 |
$8,287,635 |
$3,026,755
$496,429 |
$4,764,451 |
| 6 |
$8,702,130 |
$3,180,118
$521,258 |
$5,000,754 |
| 7 |
$9,137,010 |
$3,341,024
$547,307 |
$5,248,679 |
| 8 |
$9,594,087 |
$3,510,143
$574,686 |
$5,509,258 |
| 9 |
$10,073,814 |
$3,687,642
$603,421 |
$5,782,751 |
| 10 |
$10,577,550 |
$3,874,024
$633,595 |
$6,069,931 |
| 11 |
$11,106,201 |
$4,069,625
$665,261 |
$6,371,315 |
| 12 |
$11,661,579 |
$4,275,115
$698,529 |
$6,687,935 |
| 13 |
$12,244,590 |
$4,490,829
$733,451 |
$7,020,310 |
| 14 |
$12,857,046 |
$4,717,437
$770,137 |
$7,369,472 |
| 15 |
$13,499,853 |
$4,955,276
$808,641 |
$7,735,936 |
| 16 |
$14,174,823 |
$5,205,015
$849,072 |
$8,120,736 |
| 17 |
$14,883,315 |
$5,467,157
$891,511 |
$8,524,647 |
| 18 |
$15,627,594 |
$5,742,540
$936,093 |
$8,948,961 |
| 19 |
$16,409,019 |
$6,031,667
$982,900 |
$9,394,452 |
| 20 |
$17,229,402 |
$6,335,209
$1,032,041 |
$9,862,152 |
| 21 |
$18,091,008 |
$6,654,003
$1,083,651 |
$10,353,354 |
| 22 |
$18,995,649 |
$6,988,721
$1,137,839 |
$10,869,089 |
| 23 |
$19,945,137 |
$7,340,031
$1,194,714 |
$11,410,392 |
| 24 |
$20,942,643 |
$7,709,108
$1,254,464 |
$11,979,071 |
| 25 |
$21,989,526 |
$8,096,455
$1,317,173 |
$12,575,898 |
| 26 |
$23,089,410 |
$8,503,412
$1,383,056 |
$13,202,942 |
| 27 |
$24,243,654 |
$8,930,482
$1,452,195 |
$13,860,977 |
| 28 |
$25,455,882 |
$9,379,007
$1,524,807 |
$14,552,068 |
| 29 |
$26,728,812 |
$9,849,991
$1,601,056 |
$15,277,765 |
| 30 |
$28,065,162 |
$10,344,440
$1,681,103 |
$16,039,619 |
|
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