The jackpot for the MEGA Millions draw on Fri Jan 17, 2025, is projected to be $113 Million, with an option for a cash payout of $49.2 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina MEGA Millions Jackpot/Cash Option for Fri Jan 17, 2025 |
|---|
| Draw Date | Fri Jan 17, 2025 | | Projected Jackpot | $113,000,000 | | Cash Value | $49,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $49,200,000 | | Federal Tax(24%) | $11,808,000 | | Additional Federal Tax | $6,356,330 | | State Tax(4.75%) | $2,337,000 | | Net Lumpsum Payment | $28,698,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,700,763 |
$589,613
$80,786 |
$1,030,364 |
| 2 |
$1,785,852 |
$621,096
$84,828 |
$1,079,928 |
| 3 |
$1,875,122 |
$654,126
$89,068 |
$1,131,928 |
| 4 |
$1,968,912 |
$688,828
$93,523 |
$1,186,561 |
| 5 |
$2,067,335 |
$725,244
$98,198 |
$1,243,893 |
| 6 |
$2,170,730 |
$763,500
$103,110 |
$1,304,120 |
| 7 |
$2,279,210 |
$803,638
$108,262 |
$1,367,310 |
| 8 |
$2,393,227 |
$845,824
$113,678 |
$1,433,725 |
| 9 |
$2,512,894 |
$890,101
$119,362 |
$1,503,431 |
| 10 |
$2,638,550 |
$936,594
$125,331 |
$1,576,625 |
| 11 |
$2,770,421 |
$985,386
$131,595 |
$1,653,440 |
| 12 |
$2,908,959 |
$1,036,645
$138,176 |
$1,734,138 |
| 13 |
$3,054,390 |
$1,090,455
$145,084 |
$1,818,851 |
| 14 |
$3,207,166 |
$1,146,982
$152,340 |
$1,907,844 |
| 15 |
$3,367,513 |
$1,206,310
$159,957 |
$2,001,246 |
| 16 |
$3,535,883 |
$1,268,607
$167,954 |
$2,099,322 |
| 17 |
$3,712,615 |
$1,333,998
$176,349 |
$2,202,268 |
| 18 |
$3,898,274 |
$1,402,692
$185,168 |
$2,310,414 |
| 19 |
$4,093,199 |
$1,474,814
$194,427 |
$2,423,958 |
| 20 |
$4,297,842 |
$1,550,532
$204,147 |
$2,543,163 |
| 21 |
$4,512,768 |
$1,630,055
$214,356 |
$2,668,357 |
| 22 |
$4,738,429 |
$1,713,549
$225,075 |
$2,799,805 |
| 23 |
$4,975,277 |
$1,801,183
$236,326 |
$2,937,768 |
| 24 |
$5,224,103 |
$1,893,248
$248,145 |
$3,082,710 |
| 25 |
$5,485,246 |
$1,989,871
$260,549 |
$3,234,826 |
| 26 |
$5,759,610 |
$2,091,386
$273,581 |
$3,394,643 |
| 27 |
$6,047,534 |
$2,197,918
$287,258 |
$3,562,358 |
| 28 |
$6,349,922 |
$2,309,802
$301,621 |
$3,738,499 |
| 29 |
$6,667,452 |
$2,427,288
$316,704 |
$3,923,460 |
| 30 |
$7,000,802 |
$2,550,627
$332,538 |
$4,117,637 |
|
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