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 Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island 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(5.99%) | $10,865,860 | | Net Lumpsum Payment | $103,455,810 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$348,902 |
$3,360,352 |
| 2 |
$6,116,148 |
$2,223,305
$366,357 |
$3,526,486 |
| 3 |
$6,421,878 |
$2,336,425
$384,670 |
$3,700,783 |
| 4 |
$6,743,088 |
$2,455,273
$403,911 |
$3,883,904 |
| 5 |
$7,080,165 |
$2,579,991
$424,102 |
$4,076,072 |
| 6 |
$7,434,270 |
$2,711,010
$445,313 |
$4,277,947 |
| 7 |
$7,805,790 |
$2,848,473
$467,567 |
$4,489,750 |
| 8 |
$8,196,273 |
$2,992,951
$490,957 |
$4,712,365 |
| 9 |
$8,606,106 |
$3,144,590
$515,506 |
$4,946,010 |
| 10 |
$9,036,450 |
$3,303,817
$541,283 |
$5,191,350 |
| 11 |
$9,488,079 |
$3,470,920
$568,336 |
$5,448,823 |
| 12 |
$9,962,541 |
$3,646,471
$596,756 |
$5,719,314 |
| 13 |
$10,460,610 |
$3,830,756
$626,591 |
$6,003,263 |
| 14 |
$10,983,834 |
$4,024,349
$657,932 |
$6,301,553 |
| 15 |
$11,532,987 |
$4,227,536
$690,826 |
$6,614,625 |
| 16 |
$12,109,617 |
$4,440,889
$725,366 |
$6,943,362 |
| 17 |
$12,714,885 |
$4,664,838
$761,622 |
$7,288,425 |
| 18 |
$13,350,726 |
$4,900,099
$799,708 |
$7,650,919 |
| 19 |
$14,018,301 |
$5,147,102
$839,696 |
$8,031,503 |
| 20 |
$14,719,158 |
$5,406,419
$881,678 |
$8,431,061 |
| 21 |
$15,455,232 |
$5,678,766
$925,768 |
$8,850,698 |
| 22 |
$16,228,071 |
$5,964,717
$972,061 |
$9,291,293 |
| 23 |
$17,039,223 |
$6,264,843
$1,020,649 |
$9,753,731 |
| 24 |
$17,891,397 |
$6,580,147
$1,071,695 |
$10,239,555 |
| 25 |
$18,785,754 |
$6,911,059
$1,125,267 |
$10,749,428 |
| 26 |
$19,725,390 |
$7,258,725
$1,181,551 |
$11,285,114 |
| 27 |
$20,711,466 |
$7,623,573
$1,240,617 |
$11,847,276 |
| 28 |
$21,747,078 |
$8,006,749
$1,302,650 |
$12,437,679 |
| 29 |
$22,834,548 |
$8,409,113
$1,367,789 |
$13,057,646 |
| 30 |
$23,976,198 |
$8,831,524
$1,436,174 |
$13,708,500 |
|
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