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 West Virginia residents, the state will deduct 6.5% from your lottery earnings.
| West Virginia 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(6.5%) | $11,791,000 | | Net Lumpsum Payment | $102,530,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$378,608 |
$3,330,646 |
| 2 |
$6,116,148 |
$2,223,305
$397,550 |
$3,495,293 |
| 3 |
$6,421,878 |
$2,336,425
$417,422 |
$3,668,031 |
| 4 |
$6,743,088 |
$2,455,273
$438,301 |
$3,849,514 |
| 5 |
$7,080,165 |
$2,579,991
$460,211 |
$4,039,963 |
| 6 |
$7,434,270 |
$2,711,010
$483,228 |
$4,240,032 |
| 7 |
$7,805,790 |
$2,848,473
$507,376 |
$4,449,941 |
| 8 |
$8,196,273 |
$2,992,951
$532,758 |
$4,670,564 |
| 9 |
$8,606,106 |
$3,144,590
$559,397 |
$4,902,119 |
| 10 |
$9,036,450 |
$3,303,817
$587,369 |
$5,145,264 |
| 11 |
$9,488,079 |
$3,470,920
$616,725 |
$5,400,434 |
| 12 |
$9,962,541 |
$3,646,471
$647,565 |
$5,668,505 |
| 13 |
$10,460,610 |
$3,830,756
$679,940 |
$5,949,914 |
| 14 |
$10,983,834 |
$4,024,349
$713,949 |
$6,245,536 |
| 15 |
$11,532,987 |
$4,227,536
$749,644 |
$6,555,807 |
| 16 |
$12,109,617 |
$4,440,889
$787,125 |
$6,881,603 |
| 17 |
$12,714,885 |
$4,664,838
$826,468 |
$7,223,579 |
| 18 |
$13,350,726 |
$4,900,099
$867,797 |
$7,582,830 |
| 19 |
$14,018,301 |
$5,147,102
$911,190 |
$7,960,009 |
| 20 |
$14,719,158 |
$5,406,419
$956,745 |
$8,355,994 |
| 21 |
$15,455,232 |
$5,678,766
$1,004,590 |
$8,771,876 |
| 22 |
$16,228,071 |
$5,964,717
$1,054,825 |
$9,208,529 |
| 23 |
$17,039,223 |
$6,264,843
$1,107,549 |
$9,666,831 |
| 24 |
$17,891,397 |
$6,580,147
$1,162,941 |
$10,148,309 |
| 25 |
$18,785,754 |
$6,911,059
$1,221,074 |
$10,653,621 |
| 26 |
$19,725,390 |
$7,258,725
$1,282,150 |
$11,184,515 |
| 27 |
$20,711,466 |
$7,623,573
$1,346,245 |
$11,741,648 |
| 28 |
$21,747,078 |
$8,006,749
$1,413,560 |
$12,326,769 |
| 29 |
$22,834,548 |
$8,409,113
$1,484,246 |
$12,941,189 |
| 30 |
$23,976,198 |
$8,831,524
$1,558,453 |
$13,586,221 |
|
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