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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana 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(3.15%) | $7,591,500 | | Net Lumpsum Payment | $144,278,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$243,691 |
$4,669,793 |
| 2 |
$8,123,256 |
$2,965,935
$255,883 |
$4,901,438 |
| 3 |
$8,529,316 |
$3,116,177
$268,673 |
$5,144,466 |
| 4 |
$8,955,936 |
$3,274,027
$282,112 |
$5,399,797 |
| 5 |
$9,403,630 |
$3,439,673
$296,214 |
$5,667,743 |
| 6 |
$9,873,940 |
$3,613,688
$311,029 |
$5,949,223 |
| 7 |
$10,367,380 |
$3,796,261
$326,572 |
$6,244,547 |
| 8 |
$10,886,006 |
$3,988,153
$342,909 |
$6,554,944 |
| 9 |
$11,430,332 |
$4,189,553
$360,055 |
$6,880,724 |
| 10 |
$12,001,900 |
$4,401,033
$378,060 |
$7,222,807 |
| 11 |
$12,601,738 |
$4,622,973
$396,955 |
$7,581,810 |
| 12 |
$13,231,902 |
$4,856,134
$416,805 |
$7,958,963 |
| 13 |
$13,893,420 |
$5,100,896
$437,643 |
$8,354,881 |
| 14 |
$14,588,348 |
$5,358,019
$459,533 |
$8,770,796 |
| 15 |
$15,317,714 |
$5,627,885
$482,508 |
$9,207,321 |
| 16 |
$16,083,574 |
$5,911,253
$506,633 |
$9,665,688 |
| 17 |
$16,887,470 |
$6,208,694
$531,955 |
$10,146,821 |
| 18 |
$17,731,972 |
$6,521,160
$558,557 |
$10,652,255 |
| 19 |
$18,618,622 |
$6,849,221
$586,487 |
$11,182,914 |
| 20 |
$19,549,476 |
$7,193,637
$615,808 |
$11,740,031 |
| 21 |
$20,527,104 |
$7,555,359
$646,604 |
$12,325,141 |
| 22 |
$21,553,562 |
$7,935,148
$678,937 |
$12,939,477 |
| 23 |
$22,630,906 |
$8,333,766
$712,874 |
$13,584,266 |
| 24 |
$23,762,734 |
$8,752,542
$748,526 |
$14,261,666 |
| 25 |
$24,950,588 |
$9,192,048
$785,944 |
$14,972,596 |
| 26 |
$26,198,580 |
$9,653,805
$825,255 |
$15,719,520 |
| 27 |
$27,508,252 |
$10,138,384
$866,510 |
$16,503,358 |
| 28 |
$28,883,716 |
$10,647,305
$909,837 |
$17,326,574 |
| 29 |
$30,328,056 |
$11,181,711
$955,334 |
$18,191,011 |
| 30 |
$31,844,356 |
$11,742,742
$1,003,097 |
$19,098,517 |
|
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