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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York 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(8.82%) | $15,999,480 | | Net Lumpsum Payment | $98,322,190 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$513,742 |
$3,195,512 |
| 2 |
$6,116,148 |
$2,223,305
$539,444 |
$3,353,399 |
| 3 |
$6,421,878 |
$2,336,425
$566,410 |
$3,519,043 |
| 4 |
$6,743,088 |
$2,455,273
$594,740 |
$3,693,075 |
| 5 |
$7,080,165 |
$2,579,991
$624,471 |
$3,875,703 |
| 6 |
$7,434,270 |
$2,711,010
$655,703 |
$4,067,557 |
| 7 |
$7,805,790 |
$2,848,473
$688,471 |
$4,268,846 |
| 8 |
$8,196,273 |
$2,992,951
$722,911 |
$4,480,411 |
| 9 |
$8,606,106 |
$3,144,590
$759,059 |
$4,702,457 |
| 10 |
$9,036,450 |
$3,303,817
$797,015 |
$4,935,618 |
| 11 |
$9,488,079 |
$3,470,920
$836,849 |
$5,180,310 |
| 12 |
$9,962,541 |
$3,646,471
$878,696 |
$5,437,374 |
| 13 |
$10,460,610 |
$3,830,756
$922,626 |
$5,707,228 |
| 14 |
$10,983,834 |
$4,024,349
$968,774 |
$5,990,711 |
| 15 |
$11,532,987 |
$4,227,536
$1,017,209 |
$6,288,242 |
| 16 |
$12,109,617 |
$4,440,889
$1,068,068 |
$6,600,660 |
| 17 |
$12,714,885 |
$4,664,838
$1,121,453 |
$6,928,594 |
| 18 |
$13,350,726 |
$4,900,099
$1,177,534 |
$7,273,093 |
| 19 |
$14,018,301 |
$5,147,102
$1,236,414 |
$7,634,785 |
| 20 |
$14,719,158 |
$5,406,419
$1,298,230 |
$8,014,509 |
| 21 |
$15,455,232 |
$5,678,766
$1,363,151 |
$8,413,315 |
| 22 |
$16,228,071 |
$5,964,717
$1,431,316 |
$8,832,038 |
| 23 |
$17,039,223 |
$6,264,843
$1,502,859 |
$9,271,521 |
| 24 |
$17,891,397 |
$6,580,147
$1,578,021 |
$9,733,229 |
| 25 |
$18,785,754 |
$6,911,059
$1,656,904 |
$10,217,791 |
| 26 |
$19,725,390 |
$7,258,725
$1,739,779 |
$10,726,886 |
| 27 |
$20,711,466 |
$7,623,573
$1,826,751 |
$11,261,142 |
| 28 |
$21,747,078 |
$8,006,749
$1,918,092 |
$11,822,237 |
| 29 |
$22,834,548 |
$8,409,113
$2,014,007 |
$12,411,428 |
| 30 |
$23,976,198 |
$8,831,524
$2,114,701 |
$13,029,973 |
|
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