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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia 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(5.75%) | $13,857,500 | | Net Lumpsum Payment | $138,012,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$444,832 |
$4,468,652 |
| 2 |
$8,123,256 |
$2,965,935
$467,087 |
$4,690,234 |
| 3 |
$8,529,316 |
$3,116,177
$490,436 |
$4,922,703 |
| 4 |
$8,955,936 |
$3,274,027
$514,966 |
$5,166,943 |
| 5 |
$9,403,630 |
$3,439,673
$540,709 |
$5,423,248 |
| 6 |
$9,873,940 |
$3,613,688
$567,752 |
$5,692,500 |
| 7 |
$10,367,380 |
$3,796,261
$596,124 |
$5,974,995 |
| 8 |
$10,886,006 |
$3,988,153
$625,945 |
$6,271,908 |
| 9 |
$11,430,332 |
$4,189,553
$657,244 |
$6,583,535 |
| 10 |
$12,001,900 |
$4,401,033
$690,109 |
$6,910,758 |
| 11 |
$12,601,738 |
$4,622,973
$724,600 |
$7,254,165 |
| 12 |
$13,231,902 |
$4,856,134
$760,834 |
$7,614,934 |
| 13 |
$13,893,420 |
$5,100,896
$798,872 |
$7,993,652 |
| 14 |
$14,588,348 |
$5,358,019
$838,830 |
$8,391,499 |
| 15 |
$15,317,714 |
$5,627,885
$880,769 |
$8,809,060 |
| 16 |
$16,083,574 |
$5,911,253
$924,806 |
$9,247,515 |
| 17 |
$16,887,470 |
$6,208,694
$971,030 |
$9,707,746 |
| 18 |
$17,731,972 |
$6,521,160
$1,019,588 |
$10,191,224 |
| 19 |
$18,618,622 |
$6,849,221
$1,070,571 |
$10,698,830 |
| 20 |
$19,549,476 |
$7,193,637
$1,124,095 |
$11,231,744 |
| 21 |
$20,527,104 |
$7,555,359
$1,180,308 |
$11,791,437 |
| 22 |
$21,553,562 |
$7,935,148
$1,239,330 |
$12,379,084 |
| 23 |
$22,630,906 |
$8,333,766
$1,301,277 |
$12,995,863 |
| 24 |
$23,762,734 |
$8,752,542
$1,366,357 |
$13,643,835 |
| 25 |
$24,950,588 |
$9,192,048
$1,434,659 |
$14,323,881 |
| 26 |
$26,198,580 |
$9,653,805
$1,506,418 |
$15,038,357 |
| 27 |
$27,508,252 |
$10,138,384
$1,581,724 |
$15,788,144 |
| 28 |
$28,883,716 |
$10,647,305
$1,660,814 |
$16,575,597 |
| 29 |
$30,328,056 |
$11,181,711
$1,743,863 |
$17,402,482 |
| 30 |
$31,844,356 |
$11,742,742
$1,831,050 |
$18,270,564 |
|
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