The jackpot for the MEGA Millions draw on Fri Jun 28, 2024, is projected to be $116 Million, with an option for a cash payout of $55.4 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Fri Jun 28, 2024 |
|---|
| Draw Date | Fri Jun 28, 2024 | | Projected Jackpot | $116,000,000 | | Cash Value | $55,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $55,400,000 | | Federal Tax(24%) | $13,296,000 | | Additional Federal Tax | $7,162,330 | | State Tax(10.75%) | $5,955,500 | | Net Lumpsum Payment | $28,986,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,745,916 |
$606,319
$187,686 |
$951,911 |
| 2 |
$1,833,264 |
$638,638
$197,076 |
$997,550 |
| 3 |
$1,924,904 |
$672,545
$206,927 |
$1,045,432 |
| 4 |
$2,021,184 |
$708,168
$217,277 |
$1,095,739 |
| 5 |
$2,122,220 |
$745,552
$228,139 |
$1,148,529 |
| 6 |
$2,228,360 |
$784,824
$239,549 |
$1,203,987 |
| 7 |
$2,339,720 |
$826,027
$251,520 |
$1,262,173 |
| 8 |
$2,456,764 |
$869,333
$264,102 |
$1,323,329 |
| 9 |
$2,579,608 |
$914,785
$277,308 |
$1,387,515 |
| 10 |
$2,708,600 |
$962,512
$291,175 |
$1,454,913 |
| 11 |
$2,843,972 |
$1,012,600
$305,727 |
$1,525,645 |
| 12 |
$2,986,188 |
$1,065,220
$321,015 |
$1,599,953 |
| 13 |
$3,135,480 |
$1,120,458
$337,064 |
$1,677,958 |
| 14 |
$3,292,312 |
$1,178,486
$353,924 |
$1,759,902 |
| 15 |
$3,456,916 |
$1,239,389
$371,618 |
$1,845,909 |
| 16 |
$3,629,756 |
$1,303,340
$390,199 |
$1,936,217 |
| 17 |
$3,811,180 |
$1,370,467
$409,702 |
$2,031,011 |
| 18 |
$4,001,768 |
$1,440,985
$430,190 |
$2,130,593 |
| 19 |
$4,201,868 |
$1,515,022
$451,701 |
$2,235,145 |
| 20 |
$4,411,944 |
$1,592,750
$474,284 |
$2,344,910 |
| 21 |
$4,632,576 |
$1,674,384
$498,002 |
$2,460,190 |
| 22 |
$4,864,228 |
$1,760,095
$522,905 |
$2,581,228 |
| 23 |
$5,107,364 |
$1,850,055
$549,042 |
$2,708,267 |
| 24 |
$5,362,796 |
$1,944,565
$576,501 |
$2,841,730 |
| 25 |
$5,630,872 |
$2,043,753
$605,319 |
$2,981,800 |
| 26 |
$5,912,520 |
$2,147,963
$635,596 |
$3,128,961 |
| 27 |
$6,208,088 |
$2,257,323
$667,369 |
$3,283,396 |
| 28 |
$6,518,504 |
$2,372,177
$700,739 |
$3,445,588 |
| 29 |
$6,844,464 |
$2,492,782
$735,780 |
$3,615,902 |
| 30 |
$7,186,664 |
$2,619,396
$772,566 |
$3,794,702 |
|
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