The jackpot for the MEGA Millions draw on Tue May 14, 2024, is projected to be $363 Million, with an option for a cash payout of $166.9 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 Nebraska residents, the state will deduct 5% from your lottery earnings.
| Nebraska MEGA Millions Jackpot/Cash Option for Tue May 14, 2024 |
|---|
| Draw Date | Tue May 14, 2024 | | Projected Jackpot | $363,000,000 | | Cash Value | $166,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $166,900,000 | | Federal Tax(24%) | $40,056,000 | | Additional Federal Tax | $21,657,330 | | State Tax(5%) | $8,345,000 | | Net Lumpsum Payment | $96,841,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,463,513 |
$1,981,830
$273,176 |
$3,208,507 |
| 2 |
$5,736,852 |
$2,082,966
$286,843 |
$3,367,043 |
| 3 |
$6,023,622 |
$2,189,071
$301,181 |
$3,533,370 |
| 4 |
$6,324,912 |
$2,300,548
$316,246 |
$3,708,118 |
| 5 |
$6,641,085 |
$2,417,532
$332,054 |
$3,891,499 |
| 6 |
$6,973,230 |
$2,540,425
$348,662 |
$4,084,143 |
| 7 |
$7,321,710 |
$2,669,363
$366,086 |
$4,286,261 |
| 8 |
$7,687,977 |
$2,804,882
$384,399 |
$4,498,696 |
| 9 |
$8,072,394 |
$2,947,116
$403,620 |
$4,721,658 |
| 10 |
$8,476,050 |
$3,096,469
$423,803 |
$4,955,778 |
| 11 |
$8,899,671 |
$3,253,209
$444,984 |
$5,201,478 |
| 12 |
$9,344,709 |
$3,417,873
$467,235 |
$5,459,601 |
| 13 |
$9,811,890 |
$3,590,730
$490,595 |
$5,730,565 |
| 14 |
$10,302,666 |
$3,772,317
$515,133 |
$6,015,216 |
| 15 |
$10,817,763 |
$3,962,903
$540,888 |
$6,313,972 |
| 16 |
$11,358,633 |
$4,163,025
$567,932 |
$6,627,676 |
| 17 |
$11,926,365 |
$4,373,085
$596,318 |
$6,956,962 |
| 18 |
$12,522,774 |
$4,593,757
$626,139 |
$7,302,878 |
| 19 |
$13,148,949 |
$4,825,442
$657,447 |
$7,666,060 |
| 20 |
$13,806,342 |
$5,068,677
$690,317 |
$8,047,348 |
| 21 |
$14,496,768 |
$5,324,135
$724,838 |
$8,447,795 |
| 22 |
$15,221,679 |
$5,592,352
$761,084 |
$8,868,243 |
| 23 |
$15,982,527 |
$5,873,865
$799,126 |
$9,309,536 |
| 24 |
$16,781,853 |
$6,169,616
$839,093 |
$9,773,144 |
| 25 |
$17,620,746 |
$6,480,006
$881,037 |
$10,259,703 |
| 26 |
$18,502,110 |
$6,806,111
$925,106 |
$10,770,893 |
| 27 |
$19,427,034 |
$7,148,333
$971,352 |
$11,307,349 |
| 28 |
$20,398,422 |
$7,507,747
$1,019,921 |
$11,870,754 |
| 29 |
$21,418,452 |
$7,885,158
$1,070,923 |
$12,462,371 |
| 30 |
$22,489,302 |
$8,281,372
$1,124,465 |
$13,083,465 |
|
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