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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania 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(3.07%) | $5,568,980 | | Net Lumpsum Payment | $108,752,690 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$178,819 |
$3,530,435 |
| 2 |
$6,116,148 |
$2,223,305
$187,766 |
$3,705,077 |
| 3 |
$6,421,878 |
$2,336,425
$197,152 |
$3,888,301 |
| 4 |
$6,743,088 |
$2,455,273
$207,013 |
$4,080,802 |
| 5 |
$7,080,165 |
$2,579,991
$217,361 |
$4,282,813 |
| 6 |
$7,434,270 |
$2,711,010
$228,232 |
$4,495,028 |
| 7 |
$7,805,790 |
$2,848,473
$239,638 |
$4,717,679 |
| 8 |
$8,196,273 |
$2,992,951
$251,626 |
$4,951,696 |
| 9 |
$8,606,106 |
$3,144,590
$264,207 |
$5,197,309 |
| 10 |
$9,036,450 |
$3,303,817
$277,419 |
$5,455,214 |
| 11 |
$9,488,079 |
$3,470,920
$291,284 |
$5,725,875 |
| 12 |
$9,962,541 |
$3,646,471
$305,850 |
$6,010,220 |
| 13 |
$10,460,610 |
$3,830,756
$321,141 |
$6,308,713 |
| 14 |
$10,983,834 |
$4,024,349
$337,204 |
$6,622,281 |
| 15 |
$11,532,987 |
$4,227,536
$354,063 |
$6,951,388 |
| 16 |
$12,109,617 |
$4,440,889
$371,765 |
$7,296,963 |
| 17 |
$12,714,885 |
$4,664,838
$390,347 |
$7,659,700 |
| 18 |
$13,350,726 |
$4,900,099
$409,867 |
$8,040,760 |
| 19 |
$14,018,301 |
$5,147,102
$430,362 |
$8,440,837 |
| 20 |
$14,719,158 |
$5,406,419
$451,878 |
$8,860,861 |
| 21 |
$15,455,232 |
$5,678,766
$474,476 |
$9,301,990 |
| 22 |
$16,228,071 |
$5,964,717
$498,202 |
$9,765,152 |
| 23 |
$17,039,223 |
$6,264,843
$523,104 |
$10,251,276 |
| 24 |
$17,891,397 |
$6,580,147
$549,266 |
$10,761,984 |
| 25 |
$18,785,754 |
$6,911,059
$576,723 |
$11,297,972 |
| 26 |
$19,725,390 |
$7,258,725
$605,569 |
$11,861,096 |
| 27 |
$20,711,466 |
$7,623,573
$635,842 |
$12,452,051 |
| 28 |
$21,747,078 |
$8,006,749
$667,635 |
$13,072,694 |
| 29 |
$22,834,548 |
$8,409,113
$701,021 |
$13,724,414 |
| 30 |
$23,976,198 |
$8,831,524
$736,069 |
$14,408,605 |
|
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