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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana 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(6.75%) | $16,267,500 | | Net Lumpsum Payment | $135,602,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$522,194 |
$4,391,290 |
| 2 |
$8,123,256 |
$2,965,935
$548,320 |
$4,609,001 |
| 3 |
$8,529,316 |
$3,116,177
$575,729 |
$4,837,410 |
| 4 |
$8,955,936 |
$3,274,027
$604,526 |
$5,077,383 |
| 5 |
$9,403,630 |
$3,439,673
$634,745 |
$5,329,212 |
| 6 |
$9,873,940 |
$3,613,688
$666,491 |
$5,593,761 |
| 7 |
$10,367,380 |
$3,796,261
$699,798 |
$5,871,321 |
| 8 |
$10,886,006 |
$3,988,153
$734,805 |
$6,163,048 |
| 9 |
$11,430,332 |
$4,189,553
$771,547 |
$6,469,232 |
| 10 |
$12,001,900 |
$4,401,033
$810,128 |
$6,790,739 |
| 11 |
$12,601,738 |
$4,622,973
$850,617 |
$7,128,148 |
| 12 |
$13,231,902 |
$4,856,134
$893,153 |
$7,482,615 |
| 13 |
$13,893,420 |
$5,100,896
$937,806 |
$7,854,718 |
| 14 |
$14,588,348 |
$5,358,019
$984,713 |
$8,245,616 |
| 15 |
$15,317,714 |
$5,627,885
$1,033,946 |
$8,655,883 |
| 16 |
$16,083,574 |
$5,911,253
$1,085,641 |
$9,086,680 |
| 17 |
$16,887,470 |
$6,208,694
$1,139,904 |
$9,538,872 |
| 18 |
$17,731,972 |
$6,521,160
$1,196,908 |
$10,013,904 |
| 19 |
$18,618,622 |
$6,849,221
$1,256,757 |
$10,512,644 |
| 20 |
$19,549,476 |
$7,193,637
$1,319,590 |
$11,036,249 |
| 21 |
$20,527,104 |
$7,555,359
$1,385,580 |
$11,586,165 |
| 22 |
$21,553,562 |
$7,935,148
$1,454,865 |
$12,163,549 |
| 23 |
$22,630,906 |
$8,333,766
$1,527,586 |
$12,769,554 |
| 24 |
$23,762,734 |
$8,752,542
$1,603,985 |
$13,406,207 |
| 25 |
$24,950,588 |
$9,192,048
$1,684,165 |
$14,074,375 |
| 26 |
$26,198,580 |
$9,653,805
$1,768,404 |
$14,776,371 |
| 27 |
$27,508,252 |
$10,138,384
$1,856,807 |
$15,513,061 |
| 28 |
$28,883,716 |
$10,647,305
$1,949,651 |
$16,286,760 |
| 29 |
$30,328,056 |
$11,181,711
$2,047,144 |
$17,099,201 |
| 30 |
$31,844,356 |
$11,742,742
$2,149,494 |
$17,952,120 |
|
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