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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West Virginia 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(6.5%) | $13,624,000 | | Net Lumpsum Payment | $118,463,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$443,177 |
$3,891,898 |
| 2 |
$7,159,212 |
$2,609,239
$465,349 |
$4,084,624 |
| 3 |
$7,517,082 |
$2,741,651
$488,610 |
$4,286,821 |
| 4 |
$7,893,072 |
$2,880,767
$513,050 |
$4,499,255 |
| 5 |
$8,287,635 |
$3,026,755
$538,696 |
$4,722,184 |
| 6 |
$8,702,130 |
$3,180,118
$565,638 |
$4,956,374 |
| 7 |
$9,137,010 |
$3,341,024
$593,906 |
$5,202,080 |
| 8 |
$9,594,087 |
$3,510,143
$623,616 |
$5,460,328 |
| 9 |
$10,073,814 |
$3,687,642
$654,798 |
$5,731,374 |
| 10 |
$10,577,550 |
$3,874,024
$687,541 |
$6,015,985 |
| 11 |
$11,106,201 |
$4,069,625
$721,903 |
$6,314,673 |
| 12 |
$11,661,579 |
$4,275,115
$758,003 |
$6,628,461 |
| 13 |
$12,244,590 |
$4,490,829
$795,898 |
$6,957,863 |
| 14 |
$12,857,046 |
$4,717,437
$835,708 |
$7,303,901 |
| 15 |
$13,499,853 |
$4,955,276
$877,490 |
$7,667,087 |
| 16 |
$14,174,823 |
$5,205,015
$921,363 |
$8,048,445 |
| 17 |
$14,883,315 |
$5,467,157
$967,415 |
$8,448,743 |
| 18 |
$15,627,594 |
$5,742,540
$1,015,794 |
$8,869,260 |
| 19 |
$16,409,019 |
$6,031,667
$1,066,586 |
$9,310,766 |
| 20 |
$17,229,402 |
$6,335,209
$1,119,911 |
$9,774,282 |
| 21 |
$18,091,008 |
$6,654,003
$1,175,916 |
$10,261,089 |
| 22 |
$18,995,649 |
$6,988,721
$1,234,717 |
$10,772,211 |
| 23 |
$19,945,137 |
$7,340,031
$1,296,434 |
$11,308,672 |
| 24 |
$20,942,643 |
$7,709,108
$1,361,272 |
$11,872,263 |
| 25 |
$21,989,526 |
$8,096,455
$1,429,319 |
$12,463,752 |
| 26 |
$23,089,410 |
$8,503,412
$1,500,812 |
$13,085,186 |
| 27 |
$24,243,654 |
$8,930,482
$1,575,838 |
$13,737,334 |
| 28 |
$25,455,882 |
$9,379,007
$1,654,632 |
$14,422,243 |
| 29 |
$26,728,812 |
$9,849,991
$1,737,373 |
$15,141,448 |
| 30 |
$28,065,162 |
$10,344,440
$1,824,236 |
$15,896,486 |
|
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