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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma 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(4.75%) | $11,447,500 | | Net Lumpsum Payment | $140,422,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$367,470 |
$4,546,014 |
| 2 |
$8,123,256 |
$2,965,935
$385,855 |
$4,771,466 |
| 3 |
$8,529,316 |
$3,116,177
$405,143 |
$5,007,996 |
| 4 |
$8,955,936 |
$3,274,027
$425,407 |
$5,256,502 |
| 5 |
$9,403,630 |
$3,439,673
$446,672 |
$5,517,285 |
| 6 |
$9,873,940 |
$3,613,688
$469,012 |
$5,791,240 |
| 7 |
$10,367,380 |
$3,796,261
$492,451 |
$6,078,668 |
| 8 |
$10,886,006 |
$3,988,153
$517,085 |
$6,380,768 |
| 9 |
$11,430,332 |
$4,189,553
$542,941 |
$6,697,838 |
| 10 |
$12,001,900 |
$4,401,033
$570,090 |
$7,030,777 |
| 11 |
$12,601,738 |
$4,622,973
$598,583 |
$7,380,182 |
| 12 |
$13,231,902 |
$4,856,134
$628,515 |
$7,747,253 |
| 13 |
$13,893,420 |
$5,100,896
$659,937 |
$8,132,587 |
| 14 |
$14,588,348 |
$5,358,019
$692,947 |
$8,537,382 |
| 15 |
$15,317,714 |
$5,627,885
$727,591 |
$8,962,238 |
| 16 |
$16,083,574 |
$5,911,253
$763,970 |
$9,408,351 |
| 17 |
$16,887,470 |
$6,208,694
$802,155 |
$9,876,621 |
| 18 |
$17,731,972 |
$6,521,160
$842,269 |
$10,368,543 |
| 19 |
$18,618,622 |
$6,849,221
$884,385 |
$10,885,016 |
| 20 |
$19,549,476 |
$7,193,637
$928,600 |
$11,427,239 |
| 21 |
$20,527,104 |
$7,555,359
$975,037 |
$11,996,708 |
| 22 |
$21,553,562 |
$7,935,148
$1,023,794 |
$12,594,620 |
| 23 |
$22,630,906 |
$8,333,766
$1,074,968 |
$13,222,172 |
| 24 |
$23,762,734 |
$8,752,542
$1,128,730 |
$13,881,462 |
| 25 |
$24,950,588 |
$9,192,048
$1,185,153 |
$14,573,387 |
| 26 |
$26,198,580 |
$9,653,805
$1,244,433 |
$15,300,342 |
| 27 |
$27,508,252 |
$10,138,384
$1,306,642 |
$16,063,226 |
| 28 |
$28,883,716 |
$10,647,305
$1,371,977 |
$16,864,434 |
| 29 |
$30,328,056 |
$11,181,711
$1,440,583 |
$17,705,762 |
| 30 |
$31,844,356 |
$11,742,742
$1,512,607 |
$18,589,007 |
|
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