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 |
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Draw Date | Fri Nov 29, 2024 | Projected Jackpot | $514,000,000 | Cash Value | $241,000,000 |
Lumpsum Option Taxes and Payment |
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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 |
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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 |
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