The jackpot for the MEGA Millions draw on Fri Nov 29, 2024, is projected to be $514 Million, with an option for a cash payout of $241 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Fri Nov 29, 2024 |
|---|
| Draw Date | Fri Nov 29, 2024 | | Projected Jackpot | $514,000,000 | | Cash Value | $241,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,000,000 | | Federal Tax(24%) | $57,840,000 | | Additional Federal Tax | $31,290,330 | | State Tax(10.75%) | $25,907,500 | | Net Lumpsum Payment | $125,962,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$831,643 |
$4,081,841 |
| 2 |
$8,123,256 |
$2,965,935
$873,250 |
$4,284,071 |
| 3 |
$8,529,316 |
$3,116,177
$916,901 |
$4,496,238 |
| 4 |
$8,955,936 |
$3,274,027
$962,763 |
$4,719,146 |
| 5 |
$9,403,630 |
$3,439,673
$1,010,890 |
$4,953,067 |
| 6 |
$9,873,940 |
$3,613,688
$1,061,449 |
$5,198,803 |
| 7 |
$10,367,380 |
$3,796,261
$1,114,493 |
$5,456,626 |
| 8 |
$10,886,006 |
$3,988,153
$1,170,246 |
$5,727,607 |
| 9 |
$11,430,332 |
$4,189,553
$1,228,761 |
$6,012,018 |
| 10 |
$12,001,900 |
$4,401,033
$1,290,204 |
$6,310,663 |
| 11 |
$12,601,738 |
$4,622,973
$1,354,687 |
$6,624,078 |
| 12 |
$13,231,902 |
$4,856,134
$1,422,429 |
$6,953,339 |
| 13 |
$13,893,420 |
$5,100,896
$1,493,543 |
$7,298,981 |
| 14 |
$14,588,348 |
$5,358,019
$1,568,247 |
$7,662,082 |
| 15 |
$15,317,714 |
$5,627,885
$1,646,654 |
$8,043,175 |
| 16 |
$16,083,574 |
$5,911,253
$1,728,984 |
$8,443,337 |
| 17 |
$16,887,470 |
$6,208,694
$1,815,403 |
$8,863,373 |
| 18 |
$17,731,972 |
$6,521,160
$1,906,187 |
$9,304,625 |
| 19 |
$18,618,622 |
$6,849,221
$2,001,502 |
$9,767,899 |
| 20 |
$19,549,476 |
$7,193,637
$2,101,569 |
$10,254,270 |
| 21 |
$20,527,104 |
$7,555,359
$2,206,664 |
$10,765,081 |
| 22 |
$21,553,562 |
$7,935,148
$2,317,008 |
$11,301,406 |
| 23 |
$22,630,906 |
$8,333,766
$2,432,822 |
$11,864,318 |
| 24 |
$23,762,734 |
$8,752,542
$2,554,494 |
$12,455,698 |
| 25 |
$24,950,588 |
$9,192,048
$2,682,188 |
$13,076,352 |
| 26 |
$26,198,580 |
$9,653,805
$2,816,347 |
$13,728,428 |
| 27 |
$27,508,252 |
$10,138,384
$2,957,137 |
$14,412,731 |
| 28 |
$28,883,716 |
$10,647,305
$3,104,999 |
$15,131,412 |
| 29 |
$30,328,056 |
$11,181,711
$3,260,266 |
$15,886,079 |
| 30 |
$31,844,356 |
$11,742,742
$3,423,268 |
$16,678,346 |
|
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