The jackpot for the MEGA Millions draw on Tue Dec 10, 2024, is projected to be $619 Million, with an option for a cash payout of $297.7 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 Maine residents, the state will deduct 5% from your lottery earnings.
| Maine MEGA Millions Jackpot/Cash Option for Tue Dec 10, 2024 |
|---|
| Draw Date | Tue Dec 10, 2024 | | Projected Jackpot | $619,000,000 | | Cash Value | $297,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $297,700,000 | | Federal Tax(24%) | $71,448,000 | | Additional Federal Tax | $38,661,330 | | State Tax(5%) | $14,885,000 | | Net Lumpsum Payment | $172,705,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,316,569 |
$3,407,461
$465,828 |
$5,443,280 |
| 2 |
$9,782,676 |
$3,579,921
$489,134 |
$5,713,621 |
| 3 |
$10,271,686 |
$3,760,854
$513,584 |
$5,997,248 |
| 4 |
$10,785,456 |
$3,950,949
$539,273 |
$6,295,234 |
| 5 |
$11,324,605 |
$4,150,434
$566,230 |
$6,607,941 |
| 6 |
$11,890,990 |
$4,359,997
$594,550 |
$6,936,443 |
| 7 |
$12,485,230 |
$4,579,865
$624,262 |
$7,281,103 |
| 8 |
$13,109,801 |
$4,810,957
$655,490 |
$7,643,354 |
| 9 |
$13,765,322 |
$5,053,500
$688,266 |
$8,023,556 |
| 10 |
$14,453,650 |
$5,308,181
$722,683 |
$8,422,786 |
| 11 |
$15,176,023 |
$5,575,459
$758,801 |
$8,841,763 |
| 12 |
$15,934,917 |
$5,856,250
$796,746 |
$9,281,921 |
| 13 |
$16,731,570 |
$6,151,011
$836,579 |
$9,743,980 |
| 14 |
$17,568,458 |
$6,460,660
$878,423 |
$10,229,375 |
| 15 |
$18,446,819 |
$6,785,653
$922,341 |
$10,738,825 |
| 16 |
$19,369,129 |
$7,126,908
$968,456 |
$11,273,765 |
| 17 |
$20,337,245 |
$7,485,111
$1,016,862 |
$11,835,272 |
| 18 |
$21,354,262 |
$7,861,407
$1,067,713 |
$12,425,142 |
| 19 |
$22,422,037 |
$8,256,484
$1,121,102 |
$13,044,451 |
| 20 |
$23,543,046 |
$8,671,257
$1,177,152 |
$13,694,637 |
| 21 |
$24,720,384 |
$9,106,872
$1,236,019 |
$14,377,493 |
| 22 |
$25,956,527 |
$9,564,245
$1,297,826 |
$15,094,456 |
| 23 |
$27,253,951 |
$10,044,292
$1,362,698 |
$15,846,961 |
| 24 |
$28,616,989 |
$10,548,616
$1,430,849 |
$16,637,524 |
| 25 |
$30,047,498 |
$11,077,905
$1,502,375 |
$17,467,218 |
| 26 |
$31,550,430 |
$11,633,989
$1,577,522 |
$18,338,919 |
| 27 |
$33,127,642 |
$12,217,558
$1,656,382 |
$19,253,702 |
| 28 |
$34,784,086 |
$12,830,442
$1,739,204 |
$20,214,440 |
| 29 |
$36,523,476 |
$13,474,017
$1,826,174 |
$21,223,285 |
| 30 |
$38,349,526 |
$14,149,655
$1,917,476 |
$22,282,395 |
|
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