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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
| Louisiana 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(4.75%) | $8,616,500 | | Net Lumpsum Payment | $105,705,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$276,675 |
$3,432,579 |
| 2 |
$6,116,148 |
$2,223,305
$290,517 |
$3,602,326 |
| 3 |
$6,421,878 |
$2,336,425
$305,039 |
$3,780,414 |
| 4 |
$6,743,088 |
$2,455,273
$320,297 |
$3,967,518 |
| 5 |
$7,080,165 |
$2,579,991
$336,308 |
$4,163,866 |
| 6 |
$7,434,270 |
$2,711,010
$353,128 |
$4,370,132 |
| 7 |
$7,805,790 |
$2,848,473
$370,775 |
$4,586,542 |
| 8 |
$8,196,273 |
$2,992,951
$389,323 |
$4,813,999 |
| 9 |
$8,606,106 |
$3,144,590
$408,790 |
$5,052,726 |
| 10 |
$9,036,450 |
$3,303,817
$429,231 |
$5,303,402 |
| 11 |
$9,488,079 |
$3,470,920
$450,684 |
$5,566,475 |
| 12 |
$9,962,541 |
$3,646,471
$473,221 |
$5,842,849 |
| 13 |
$10,460,610 |
$3,830,756
$496,879 |
$6,132,975 |
| 14 |
$10,983,834 |
$4,024,349
$521,732 |
$6,437,753 |
| 15 |
$11,532,987 |
$4,227,536
$547,817 |
$6,757,634 |
| 16 |
$12,109,617 |
$4,440,889
$575,207 |
$7,093,521 |
| 17 |
$12,714,885 |
$4,664,838
$603,957 |
$7,446,090 |
| 18 |
$13,350,726 |
$4,900,099
$634,159 |
$7,816,468 |
| 19 |
$14,018,301 |
$5,147,102
$665,869 |
$8,205,330 |
| 20 |
$14,719,158 |
$5,406,419
$699,160 |
$8,613,579 |
| 21 |
$15,455,232 |
$5,678,766
$734,124 |
$9,042,342 |
| 22 |
$16,228,071 |
$5,964,717
$770,833 |
$9,492,521 |
| 23 |
$17,039,223 |
$6,264,843
$809,363 |
$9,965,017 |
| 24 |
$17,891,397 |
$6,580,147
$849,841 |
$10,461,409 |
| 25 |
$18,785,754 |
$6,911,059
$892,323 |
$10,982,372 |
| 26 |
$19,725,390 |
$7,258,725
$936,956 |
$11,529,709 |
| 27 |
$20,711,466 |
$7,623,573
$983,795 |
$12,104,098 |
| 28 |
$21,747,078 |
$8,006,749
$1,032,986 |
$12,707,343 |
| 29 |
$22,834,548 |
$8,409,113
$1,084,641 |
$13,340,794 |
| 30 |
$23,976,198 |
$8,831,524
$1,138,869 |
$14,005,805 |
|
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