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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana 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(3.15%) | $5,714,100 | | Net Lumpsum Payment | $108,607,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$183,479 |
$3,525,775 |
| 2 |
$6,116,148 |
$2,223,305
$192,659 |
$3,700,184 |
| 3 |
$6,421,878 |
$2,336,425
$202,289 |
$3,883,164 |
| 4 |
$6,743,088 |
$2,455,273
$212,407 |
$4,075,408 |
| 5 |
$7,080,165 |
$2,579,991
$223,025 |
$4,277,149 |
| 6 |
$7,434,270 |
$2,711,010
$234,180 |
$4,489,080 |
| 7 |
$7,805,790 |
$2,848,473
$245,882 |
$4,711,435 |
| 8 |
$8,196,273 |
$2,992,951
$258,183 |
$4,945,139 |
| 9 |
$8,606,106 |
$3,144,590
$271,092 |
$5,190,424 |
| 10 |
$9,036,450 |
$3,303,817
$284,648 |
$5,447,985 |
| 11 |
$9,488,079 |
$3,470,920
$298,874 |
$5,718,285 |
| 12 |
$9,962,541 |
$3,646,471
$313,820 |
$6,002,250 |
| 13 |
$10,460,610 |
$3,830,756
$329,509 |
$6,300,345 |
| 14 |
$10,983,834 |
$4,024,349
$345,991 |
$6,613,494 |
| 15 |
$11,532,987 |
$4,227,536
$363,289 |
$6,942,162 |
| 16 |
$12,109,617 |
$4,440,889
$381,453 |
$7,287,275 |
| 17 |
$12,714,885 |
$4,664,838
$400,519 |
$7,649,528 |
| 18 |
$13,350,726 |
$4,900,099
$420,548 |
$8,030,079 |
| 19 |
$14,018,301 |
$5,147,102
$441,576 |
$8,429,623 |
| 20 |
$14,719,158 |
$5,406,419
$463,653 |
$8,849,086 |
| 21 |
$15,455,232 |
$5,678,766
$486,840 |
$9,289,626 |
| 22 |
$16,228,071 |
$5,964,717
$511,184 |
$9,752,170 |
| 23 |
$17,039,223 |
$6,264,843
$536,736 |
$10,237,644 |
| 24 |
$17,891,397 |
$6,580,147
$563,579 |
$10,747,671 |
| 25 |
$18,785,754 |
$6,911,059
$591,751 |
$11,282,944 |
| 26 |
$19,725,390 |
$7,258,725
$621,350 |
$11,845,315 |
| 27 |
$20,711,466 |
$7,623,573
$652,411 |
$12,435,482 |
| 28 |
$21,747,078 |
$8,006,749
$685,033 |
$13,055,296 |
| 29 |
$22,834,548 |
$8,409,113
$719,288 |
$13,706,147 |
| 30 |
$23,976,198 |
$8,831,524
$755,250 |
$14,389,424 |
|
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