The jackpot for the MEGA Millions draw on Fri Dec 13, 2024, is projected to be $670 Million, with an option for a cash payout of $317.8 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 Dec 13, 2024 |
|---|
| Draw Date | Fri Dec 13, 2024 | | Projected Jackpot | $670,000,000 | | Cash Value | $317,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $317,800,000 | | Federal Tax(24%) | $76,272,000 | | Additional Federal Tax | $41,274,330 | | State Tax(3.99%) | $12,680,220 | | Net Lumpsum Payment | $187,573,450 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,084,170 |
$3,691,473
$402,358 |
$5,990,339 |
| 2 |
$10,588,680 |
$3,878,142
$422,488 |
$6,288,050 |
| 3 |
$11,117,980 |
$4,073,983
$443,607 |
$6,600,390 |
| 4 |
$11,674,080 |
$4,279,740
$465,796 |
$6,928,544 |
| 5 |
$12,257,650 |
$4,495,661
$489,080 |
$7,272,909 |
| 6 |
$12,870,700 |
$4,722,489
$513,541 |
$7,634,670 |
| 7 |
$13,513,900 |
$4,960,473
$539,205 |
$8,014,222 |
| 8 |
$14,189,930 |
$5,210,604
$566,178 |
$8,413,148 |
| 9 |
$14,899,460 |
$5,473,131
$594,488 |
$8,831,841 |
| 10 |
$15,644,500 |
$5,748,795
$624,216 |
$9,271,489 |
| 11 |
$16,426,390 |
$6,038,095
$655,413 |
$9,732,882 |
| 12 |
$17,247,810 |
$6,342,020
$688,188 |
$10,217,602 |
| 13 |
$18,110,100 |
$6,661,067
$722,593 |
$10,726,440 |
| 14 |
$19,015,940 |
$6,996,228
$758,736 |
$11,260,976 |
| 15 |
$19,966,670 |
$7,347,998
$796,670 |
$11,822,002 |
| 16 |
$20,964,970 |
$7,717,369
$836,502 |
$12,411,099 |
| 17 |
$22,012,850 |
$8,105,085
$878,313 |
$13,029,452 |
| 18 |
$23,113,660 |
$8,512,385
$922,235 |
$13,679,040 |
| 19 |
$24,269,410 |
$8,940,012
$968,349 |
$14,361,049 |
| 20 |
$25,482,780 |
$9,388,959
$1,016,763 |
$15,077,058 |
| 21 |
$26,757,120 |
$9,860,465
$1,067,609 |
$15,829,046 |
| 22 |
$28,095,110 |
$10,355,521
$1,120,995 |
$16,618,594 |
| 23 |
$29,499,430 |
$10,875,119
$1,177,027 |
$17,447,284 |
| 24 |
$30,974,770 |
$11,420,995
$1,235,893 |
$18,317,882 |
| 25 |
$32,523,140 |
$11,993,892
$1,297,673 |
$19,231,575 |
| 26 |
$34,149,900 |
$12,595,793
$1,362,581 |
$20,191,526 |
| 27 |
$35,857,060 |
$13,227,443
$1,430,697 |
$21,198,920 |
| 28 |
$37,649,980 |
$13,890,823
$1,502,234 |
$22,256,923 |
| 29 |
$39,532,680 |
$14,587,422
$1,577,354 |
$23,367,904 |
| 30 |
$41,509,180 |
$15,318,727
$1,656,216 |
$24,534,237 |
|
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