Jackpot Analysis Michigan Mega Millions

Jackpot Analysis for Michigan Mega Millions
The jackpot for the MEGA Millions draw on Fri Dec 13, 2024, is projected to be $670 Million, with an option for a cash payout of $317.8 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 Michigan residents, the state will deduct 4.25% from your lottery earnings.

Michigan MEGA Millions Jackpot/Cash Option for Fri Dec 13, 2024
Draw DateFri Dec 13, 2024
Projected Jackpot$670,000,000
Cash Value$317,800,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$317,800,000
Federal Tax(24%)$76,272,000
Additional Federal Tax$41,274,330
State Tax(4.25%)$13,506,500
Net Lumpsum Payment$186,747,170
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $10,084,170 $3,691,473
$428,577
$5,964,120
2 $10,588,680 $3,878,142
$450,019
$6,260,519
3 $11,117,980 $4,073,983
$472,514
$6,571,483
4 $11,674,080 $4,279,740
$496,148
$6,898,192
5 $12,257,650 $4,495,661
$520,950
$7,241,039
6 $12,870,700 $4,722,489
$547,005
$7,601,206
7 $13,513,900 $4,960,473
$574,341
$7,979,086
8 $14,189,930 $5,210,604
$603,072
$8,376,254
9 $14,899,460 $5,473,131
$633,227
$8,793,102
10 $15,644,500 $5,748,795
$664,891
$9,230,814
11 $16,426,390 $6,038,095
$698,122
$9,690,173
12 $17,247,810 $6,342,020
$733,032
$10,172,758
13 $18,110,100 $6,661,067
$769,679
$10,679,354
14 $19,015,940 $6,996,228
$808,177
$11,211,535
15 $19,966,670 $7,347,998
$848,583
$11,770,089
16 $20,964,970 $7,717,369
$891,011
$12,356,590
17 $22,012,850 $8,105,085
$935,546
$12,972,219
18 $23,113,660 $8,512,385
$982,331
$13,618,944
19 $24,269,410 $8,940,012
$1,031,450
$14,297,948
20 $25,482,780 $9,388,959
$1,083,018
$15,010,803
21 $26,757,120 $9,860,465
$1,137,178
$15,759,477
22 $28,095,110 $10,355,521
$1,194,042
$16,545,547
23 $29,499,430 $10,875,119
$1,253,726
$17,370,585
24 $30,974,770 $11,420,995
$1,316,428
$18,237,347
25 $32,523,140 $11,993,892
$1,382,233
$19,147,015
26 $34,149,900 $12,595,793
$1,451,371
$20,102,736
27 $35,857,060 $13,227,443
$1,523,925
$21,105,692
28 $37,649,980 $13,890,823
$1,600,124
$22,159,033
29 $39,532,680 $14,587,422
$1,680,139
$23,265,119
30 $41,509,180 $15,318,727
$1,764,140
$24,426,313