The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia MEGA Millions Jackpot/Cash Option for Fri Nov 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(5.75%) | $10,430,500 | | Net Lumpsum Payment | $103,891,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$334,922 |
$3,374,332 |
| 2 |
$6,116,148 |
$2,223,305
$351,679 |
$3,541,164 |
| 3 |
$6,421,878 |
$2,336,425
$369,258 |
$3,716,195 |
| 4 |
$6,743,088 |
$2,455,273
$387,728 |
$3,900,087 |
| 5 |
$7,080,165 |
$2,579,991
$407,109 |
$4,093,065 |
| 6 |
$7,434,270 |
$2,711,010
$427,471 |
$4,295,789 |
| 7 |
$7,805,790 |
$2,848,473
$448,833 |
$4,508,484 |
| 8 |
$8,196,273 |
$2,992,951
$471,286 |
$4,732,036 |
| 9 |
$8,606,106 |
$3,144,590
$494,851 |
$4,966,665 |
| 10 |
$9,036,450 |
$3,303,817
$519,596 |
$5,213,037 |
| 11 |
$9,488,079 |
$3,470,920
$545,565 |
$5,471,594 |
| 12 |
$9,962,541 |
$3,646,471
$572,846 |
$5,743,224 |
| 13 |
$10,460,610 |
$3,830,756
$601,485 |
$6,028,369 |
| 14 |
$10,983,834 |
$4,024,349
$631,570 |
$6,327,915 |
| 15 |
$11,532,987 |
$4,227,536
$663,147 |
$6,642,304 |
| 16 |
$12,109,617 |
$4,440,889
$696,303 |
$6,972,425 |
| 17 |
$12,714,885 |
$4,664,838
$731,106 |
$7,318,941 |
| 18 |
$13,350,726 |
$4,900,099
$767,667 |
$7,682,960 |
| 19 |
$14,018,301 |
$5,147,102
$806,052 |
$8,065,147 |
| 20 |
$14,719,158 |
$5,406,419
$846,352 |
$8,466,387 |
| 21 |
$15,455,232 |
$5,678,766
$888,676 |
$8,887,790 |
| 22 |
$16,228,071 |
$5,964,717
$933,114 |
$9,330,240 |
| 23 |
$17,039,223 |
$6,264,843
$979,755 |
$9,794,625 |
| 24 |
$17,891,397 |
$6,580,147
$1,028,755 |
$10,282,495 |
| 25 |
$18,785,754 |
$6,911,059
$1,080,181 |
$10,794,514 |
| 26 |
$19,725,390 |
$7,258,725
$1,134,210 |
$11,332,455 |
| 27 |
$20,711,466 |
$7,623,573
$1,190,909 |
$11,896,984 |
| 28 |
$21,747,078 |
$8,006,749
$1,250,457 |
$12,489,872 |
| 29 |
$22,834,548 |
$8,409,113
$1,312,987 |
$13,112,448 |
| 30 |
$23,976,198 |
$8,831,524
$1,378,631 |
$13,766,043 |
|
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