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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland 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(8.95%) | $16,235,300 | | Net Lumpsum Payment | $98,086,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$521,314 |
$3,187,940 |
| 2 |
$6,116,148 |
$2,223,305
$547,395 |
$3,345,448 |
| 3 |
$6,421,878 |
$2,336,425
$574,758 |
$3,510,695 |
| 4 |
$6,743,088 |
$2,455,273
$603,506 |
$3,684,309 |
| 5 |
$7,080,165 |
$2,579,991
$633,675 |
$3,866,499 |
| 6 |
$7,434,270 |
$2,711,010
$665,367 |
$4,057,893 |
| 7 |
$7,805,790 |
$2,848,473
$698,618 |
$4,258,699 |
| 8 |
$8,196,273 |
$2,992,951
$733,566 |
$4,469,756 |
| 9 |
$8,606,106 |
$3,144,590
$770,246 |
$4,691,270 |
| 10 |
$9,036,450 |
$3,303,817
$808,762 |
$4,923,871 |
| 11 |
$9,488,079 |
$3,470,920
$849,183 |
$5,167,976 |
| 12 |
$9,962,541 |
$3,646,471
$891,647 |
$5,424,423 |
| 13 |
$10,460,610 |
$3,830,756
$936,225 |
$5,693,629 |
| 14 |
$10,983,834 |
$4,024,349
$983,053 |
$5,976,432 |
| 15 |
$11,532,987 |
$4,227,536
$1,032,202 |
$6,273,249 |
| 16 |
$12,109,617 |
$4,440,889
$1,083,811 |
$6,584,917 |
| 17 |
$12,714,885 |
$4,664,838
$1,137,982 |
$6,912,065 |
| 18 |
$13,350,726 |
$4,900,099
$1,194,890 |
$7,255,737 |
| 19 |
$14,018,301 |
$5,147,102
$1,254,638 |
$7,616,561 |
| 20 |
$14,719,158 |
$5,406,419
$1,317,365 |
$7,995,374 |
| 21 |
$15,455,232 |
$5,678,766
$1,383,243 |
$8,393,223 |
| 22 |
$16,228,071 |
$5,964,717
$1,452,412 |
$8,810,942 |
| 23 |
$17,039,223 |
$6,264,843
$1,525,010 |
$9,249,370 |
| 24 |
$17,891,397 |
$6,580,147
$1,601,280 |
$9,709,970 |
| 25 |
$18,785,754 |
$6,911,059
$1,681,325 |
$10,193,370 |
| 26 |
$19,725,390 |
$7,258,725
$1,765,422 |
$10,701,243 |
| 27 |
$20,711,466 |
$7,623,573
$1,853,676 |
$11,234,217 |
| 28 |
$21,747,078 |
$8,006,749
$1,946,363 |
$11,793,966 |
| 29 |
$22,834,548 |
$8,409,113
$2,043,692 |
$12,381,743 |
| 30 |
$23,976,198 |
$8,831,524
$2,145,870 |
$12,998,804 |
|
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