The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 those living in Washington, the bright side is you won't have to pay any state taxes on your lottery prize.
Washington MEGA Millions Jackpot/Cash Option for Fri Nov 15, 2024 |
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Draw Date | Fri Nov 15, 2024 | Projected Jackpot | $387,000,000 | Cash Value | $181,400,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $181,400,000 | Federal Tax(24%) | $43,536,000 | Additional Federal Tax | $23,542,330 | State Tax(0%) | $0 | Net Lumpsum Payment | $114,321,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$5,824,737 |
$2,115,483 $0 |
$3,709,254 |
2 |
$6,116,148 |
$2,223,305 $0 |
$3,892,843 |
3 |
$6,421,878 |
$2,336,425 $0 |
$4,085,453 |
4 |
$6,743,088 |
$2,455,273 $0 |
$4,287,815 |
5 |
$7,080,165 |
$2,579,991 $0 |
$4,500,174 |
6 |
$7,434,270 |
$2,711,010 $0 |
$4,723,260 |
7 |
$7,805,790 |
$2,848,473 $0 |
$4,957,317 |
8 |
$8,196,273 |
$2,992,951 $0 |
$5,203,322 |
9 |
$8,606,106 |
$3,144,590 $0 |
$5,461,516 |
10 |
$9,036,450 |
$3,303,817 $0 |
$5,732,633 |
11 |
$9,488,079 |
$3,470,920 $0 |
$6,017,159 |
12 |
$9,962,541 |
$3,646,471 $0 |
$6,316,070 |
13 |
$10,460,610 |
$3,830,756 $0 |
$6,629,854 |
14 |
$10,983,834 |
$4,024,349 $0 |
$6,959,485 |
15 |
$11,532,987 |
$4,227,536 $0 |
$7,305,451 |
16 |
$12,109,617 |
$4,440,889 $0 |
$7,668,728 |
17 |
$12,714,885 |
$4,664,838 $0 |
$8,050,047 |
18 |
$13,350,726 |
$4,900,099 $0 |
$8,450,627 |
19 |
$14,018,301 |
$5,147,102 $0 |
$8,871,199 |
20 |
$14,719,158 |
$5,406,419 $0 |
$9,312,739 |
21 |
$15,455,232 |
$5,678,766 $0 |
$9,776,466 |
22 |
$16,228,071 |
$5,964,717 $0 |
$10,263,354 |
23 |
$17,039,223 |
$6,264,843 $0 |
$10,774,380 |
24 |
$17,891,397 |
$6,580,147 $0 |
$11,311,250 |
25 |
$18,785,754 |
$6,911,059 $0 |
$11,874,695 |
26 |
$19,725,390 |
$7,258,725 $0 |
$12,466,665 |
27 |
$20,711,466 |
$7,623,573 $0 |
$13,087,893 |
28 |
$21,747,078 |
$8,006,749 $0 |
$13,740,329 |
29 |
$22,834,548 |
$8,409,113 $0 |
$14,425,435 |
30 |
$23,976,198 |
$8,831,524 $0 |
$15,144,674 |
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