The jackpot for the MEGA Millions draw on Tue Oct 1, 2024, is projected to be $93 Million, with an option for a cash payout of $46 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Tue Oct 1, 2024 |
|---|
| Draw Date | Tue Oct 1, 2024 | | Projected Jackpot | $93,000,000 | | Cash Value | $46,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $46,000,000 | | Federal Tax(24%) | $11,040,000 | | Additional Federal Tax | $5,940,330 | | State Tax(10.75%) | $4,945,000 | | Net Lumpsum Payment | $24,074,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,399,743 |
$478,235
$150,472 |
$771,036 |
| 2 |
$1,469,772 |
$504,146
$158,000 |
$807,626 |
| 3 |
$1,543,242 |
$531,330
$165,899 |
$846,013 |
| 4 |
$1,620,432 |
$559,890
$174,196 |
$886,346 |
| 5 |
$1,701,435 |
$589,861
$182,904 |
$928,670 |
| 6 |
$1,786,530 |
$621,346
$192,052 |
$973,132 |
| 7 |
$1,875,810 |
$654,380
$201,650 |
$1,019,780 |
| 8 |
$1,969,647 |
$689,100
$211,737 |
$1,068,810 |
| 9 |
$2,068,134 |
$725,540
$222,324 |
$1,120,270 |
| 10 |
$2,171,550 |
$763,804
$233,442 |
$1,174,304 |
| 11 |
$2,280,081 |
$803,960
$245,109 |
$1,231,012 |
| 12 |
$2,394,099 |
$846,147
$257,366 |
$1,290,586 |
| 13 |
$2,513,790 |
$890,433
$270,232 |
$1,353,125 |
| 14 |
$2,639,526 |
$936,955
$283,749 |
$1,418,822 |
| 15 |
$2,771,493 |
$985,783
$297,935 |
$1,487,775 |
| 16 |
$2,910,063 |
$1,037,054
$312,832 |
$1,560,177 |
| 17 |
$3,055,515 |
$1,090,871
$328,468 |
$1,636,176 |
| 18 |
$3,208,314 |
$1,147,407
$344,894 |
$1,716,013 |
| 19 |
$3,368,739 |
$1,206,764
$362,139 |
$1,799,836 |
| 20 |
$3,537,162 |
$1,269,080
$380,245 |
$1,887,837 |
| 21 |
$3,714,048 |
$1,334,528
$399,260 |
$1,980,260 |
| 22 |
$3,899,769 |
$1,403,245
$419,225 |
$2,077,299 |
| 23 |
$4,094,697 |
$1,475,368
$440,180 |
$2,179,149 |
| 24 |
$4,299,483 |
$1,551,139
$462,194 |
$2,286,150 |
| 25 |
$4,514,406 |
$1,630,661
$485,299 |
$2,398,446 |
| 26 |
$4,740,210 |
$1,714,208
$509,573 |
$2,516,429 |
| 27 |
$4,977,174 |
$1,801,885
$535,046 |
$2,640,243 |
| 28 |
$5,226,042 |
$1,893,966
$561,800 |
$2,770,276 |
| 29 |
$5,487,372 |
$1,990,658
$589,892 |
$2,906,822 |
| 30 |
$5,761,722 |
$2,092,168
$619,385 |
$3,050,169 |
|
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