Jackpot Analysis Ohio Mega Millions

Jackpot Analysis for Ohio Mega Millions
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 Ohio residents, the state will deduct 3.99% from your lottery earnings.

Ohio MEGA Millions Jackpot/Cash Option for Fri Nov 29, 2024
Draw DateFri 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(3.99%)$9,615,900
Net Lumpsum Payment$142,253,770
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $7,736,214 $2,822,730
$308,675
$4,604,809
2 $8,123,256 $2,965,935
$324,118
$4,833,203
3 $8,529,316 $3,116,177
$340,320
$5,072,819
4 $8,955,936 $3,274,027
$357,342
$5,324,567
5 $9,403,630 $3,439,673
$375,205
$5,588,752
6 $9,873,940 $3,613,688
$393,970
$5,866,282
7 $10,367,380 $3,796,261
$413,658
$6,157,461
8 $10,886,006 $3,988,153
$434,352
$6,463,501
9 $11,430,332 $4,189,553
$456,070
$6,784,709
10 $12,001,900 $4,401,033
$478,876
$7,121,991
11 $12,601,738 $4,622,973
$502,809
$7,475,956
12 $13,231,902 $4,856,134
$527,953
$7,847,815
13 $13,893,420 $5,100,896
$554,347
$8,238,177
14 $14,588,348 $5,358,019
$582,075
$8,648,254
15 $15,317,714 $5,627,885
$611,177
$9,078,652
16 $16,083,574 $5,911,253
$641,735
$9,530,586
17 $16,887,470 $6,208,694
$673,810
$10,004,966
18 $17,731,972 $6,521,160
$707,506
$10,503,306
19 $18,618,622 $6,849,221
$742,883
$11,026,518
20 $19,549,476 $7,193,637
$780,024
$11,575,815
21 $20,527,104 $7,555,359
$819,031
$12,152,714
22 $21,553,562 $7,935,148
$859,987
$12,758,427
23 $22,630,906 $8,333,766
$902,973
$13,394,167
24 $23,762,734 $8,752,542
$948,133
$14,062,059
25 $24,950,588 $9,192,048
$995,528
$14,763,012
26 $26,198,580 $9,653,805
$1,045,323
$15,499,452
27 $27,508,252 $10,138,384
$1,097,579
$16,272,289
28 $28,883,716 $10,647,305
$1,152,460
$17,083,951
29 $30,328,056 $11,181,711
$1,210,089
$17,936,256
30 $31,844,356 $11,742,742
$1,270,590
$18,831,024