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 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(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 |
|
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