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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio 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(3.99%) | $7,237,860 | | Net Lumpsum Payment | $107,083,810 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$232,407 |
$3,476,847 |
| 2 |
$6,116,148 |
$2,223,305
$244,034 |
$3,648,809 |
| 3 |
$6,421,878 |
$2,336,425
$256,233 |
$3,829,220 |
| 4 |
$6,743,088 |
$2,455,273
$269,049 |
$4,018,766 |
| 5 |
$7,080,165 |
$2,579,991
$282,499 |
$4,217,675 |
| 6 |
$7,434,270 |
$2,711,010
$296,627 |
$4,426,633 |
| 7 |
$7,805,790 |
$2,848,473
$311,451 |
$4,645,866 |
| 8 |
$8,196,273 |
$2,992,951
$327,031 |
$4,876,291 |
| 9 |
$8,606,106 |
$3,144,590
$343,384 |
$5,118,132 |
| 10 |
$9,036,450 |
$3,303,817
$360,554 |
$5,372,079 |
| 11 |
$9,488,079 |
$3,470,920
$378,574 |
$5,638,585 |
| 12 |
$9,962,541 |
$3,646,471
$397,505 |
$5,918,565 |
| 13 |
$10,460,610 |
$3,830,756
$417,378 |
$6,212,476 |
| 14 |
$10,983,834 |
$4,024,349
$438,255 |
$6,521,230 |
| 15 |
$11,532,987 |
$4,227,536
$460,166 |
$6,845,285 |
| 16 |
$12,109,617 |
$4,440,889
$483,174 |
$7,185,554 |
| 17 |
$12,714,885 |
$4,664,838
$507,324 |
$7,542,723 |
| 18 |
$13,350,726 |
$4,900,099
$532,694 |
$7,917,933 |
| 19 |
$14,018,301 |
$5,147,102
$559,330 |
$8,311,869 |
| 20 |
$14,719,158 |
$5,406,419
$587,294 |
$8,725,445 |
| 21 |
$15,455,232 |
$5,678,766
$616,664 |
$9,159,802 |
| 22 |
$16,228,071 |
$5,964,717
$647,500 |
$9,615,854 |
| 23 |
$17,039,223 |
$6,264,843
$679,865 |
$10,094,515 |
| 24 |
$17,891,397 |
$6,580,147
$713,867 |
$10,597,383 |
| 25 |
$18,785,754 |
$6,911,059
$749,552 |
$11,125,143 |
| 26 |
$19,725,390 |
$7,258,725
$787,043 |
$11,679,622 |
| 27 |
$20,711,466 |
$7,623,573
$826,387 |
$12,261,506 |
| 28 |
$21,747,078 |
$8,006,749
$867,708 |
$12,872,621 |
| 29 |
$22,834,548 |
$8,409,113
$911,098 |
$13,514,337 |
| 30 |
$23,976,198 |
$8,831,524
$956,650 |
$14,188,024 |
|
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