The jackpot for the MEGA Millions draw on Tue Dec 10, 2024, is projected to be $619 Million, with an option for a cash payout of $297.7 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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania MEGA Millions Jackpot/Cash Option for Tue Dec 10, 2024 |
|---|
| Draw Date | Tue Dec 10, 2024 | | Projected Jackpot | $619,000,000 | | Cash Value | $297,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $297,700,000 | | Federal Tax(24%) | $71,448,000 | | Additional Federal Tax | $38,661,330 | | State Tax(3.07%) | $9,139,390 | | Net Lumpsum Payment | $178,451,280 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,316,569 |
$3,407,461
$286,019 |
$5,623,089 |
| 2 |
$9,782,676 |
$3,579,921
$300,328 |
$5,902,427 |
| 3 |
$10,271,686 |
$3,760,854
$315,341 |
$6,195,491 |
| 4 |
$10,785,456 |
$3,950,949
$331,113 |
$6,503,394 |
| 5 |
$11,324,605 |
$4,150,434
$347,665 |
$6,826,506 |
| 6 |
$11,890,990 |
$4,359,997
$365,053 |
$7,165,940 |
| 7 |
$12,485,230 |
$4,579,865
$383,297 |
$7,522,068 |
| 8 |
$13,109,801 |
$4,810,957
$402,471 |
$7,896,373 |
| 9 |
$13,765,322 |
$5,053,500
$422,595 |
$8,289,227 |
| 10 |
$14,453,650 |
$5,308,181
$443,727 |
$8,701,742 |
| 11 |
$15,176,023 |
$5,575,459
$465,904 |
$9,134,660 |
| 12 |
$15,934,917 |
$5,856,250
$489,202 |
$9,589,465 |
| 13 |
$16,731,570 |
$6,151,011
$513,659 |
$10,066,900 |
| 14 |
$17,568,458 |
$6,460,660
$539,352 |
$10,568,446 |
| 15 |
$18,446,819 |
$6,785,653
$566,317 |
$11,094,849 |
| 16 |
$19,369,129 |
$7,126,908
$594,632 |
$11,647,589 |
| 17 |
$20,337,245 |
$7,485,111
$624,353 |
$12,227,781 |
| 18 |
$21,354,262 |
$7,861,407
$655,576 |
$12,837,279 |
| 19 |
$22,422,037 |
$8,256,484
$688,357 |
$13,477,196 |
| 20 |
$23,543,046 |
$8,671,257
$722,772 |
$14,149,017 |
| 21 |
$24,720,384 |
$9,106,872
$758,916 |
$14,854,596 |
| 22 |
$25,956,527 |
$9,564,245
$796,865 |
$15,595,417 |
| 23 |
$27,253,951 |
$10,044,292
$836,696 |
$16,372,963 |
| 24 |
$28,616,989 |
$10,548,616
$878,542 |
$17,189,831 |
| 25 |
$30,047,498 |
$11,077,905
$922,458 |
$18,047,135 |
| 26 |
$31,550,430 |
$11,633,989
$968,598 |
$18,947,843 |
| 27 |
$33,127,642 |
$12,217,558
$1,017,019 |
$19,893,065 |
| 28 |
$34,784,086 |
$12,830,442
$1,067,871 |
$20,885,773 |
| 29 |
$36,523,476 |
$13,474,017
$1,121,271 |
$21,928,188 |
| 30 |
$38,349,526 |
$14,149,655
$1,177,330 |
$23,022,541 |
|
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