The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $209,600,000 | | Federal Tax(24%) | $50,304,000 | | Additional Federal Tax | $27,208,330 | | State Tax(5.75%) | $12,052,000 | | Net Lumpsum Payment | $120,035,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$392,041 |
$3,943,034 |
| 2 |
$7,159,212 |
$2,609,239
$411,655 |
$4,138,318 |
| 3 |
$7,517,082 |
$2,741,651
$432,232 |
$4,343,199 |
| 4 |
$7,893,072 |
$2,880,767
$453,852 |
$4,558,453 |
| 5 |
$8,287,635 |
$3,026,755
$476,539 |
$4,784,341 |
| 6 |
$8,702,130 |
$3,180,118
$500,372 |
$5,021,640 |
| 7 |
$9,137,010 |
$3,341,024
$525,378 |
$5,270,608 |
| 8 |
$9,594,087 |
$3,510,143
$551,660 |
$5,532,284 |
| 9 |
$10,073,814 |
$3,687,642
$579,244 |
$5,806,928 |
| 10 |
$10,577,550 |
$3,874,024
$608,209 |
$6,095,317 |
| 11 |
$11,106,201 |
$4,069,625
$638,607 |
$6,397,969 |
| 12 |
$11,661,579 |
$4,275,115
$670,541 |
$6,715,923 |
| 13 |
$12,244,590 |
$4,490,829
$704,064 |
$7,049,697 |
| 14 |
$12,857,046 |
$4,717,437
$739,280 |
$7,400,329 |
| 15 |
$13,499,853 |
$4,955,276
$776,242 |
$7,768,335 |
| 16 |
$14,174,823 |
$5,205,015
$815,052 |
$8,154,756 |
| 17 |
$14,883,315 |
$5,467,157
$855,791 |
$8,560,367 |
| 18 |
$15,627,594 |
$5,742,540
$898,587 |
$8,986,467 |
| 19 |
$16,409,019 |
$6,031,667
$943,519 |
$9,433,833 |
| 20 |
$17,229,402 |
$6,335,209
$990,691 |
$9,903,502 |
| 21 |
$18,091,008 |
$6,654,003
$1,040,233 |
$10,396,772 |
| 22 |
$18,995,649 |
$6,988,721
$1,092,250 |
$10,914,678 |
| 23 |
$19,945,137 |
$7,340,031
$1,146,845 |
$11,458,261 |
| 24 |
$20,942,643 |
$7,709,108
$1,204,202 |
$12,029,333 |
| 25 |
$21,989,526 |
$8,096,455
$1,264,398 |
$12,628,673 |
| 26 |
$23,089,410 |
$8,503,412
$1,327,641 |
$13,258,357 |
| 27 |
$24,243,654 |
$8,930,482
$1,394,010 |
$13,919,162 |
| 28 |
$25,455,882 |
$9,379,007
$1,463,713 |
$14,613,162 |
| 29 |
$26,728,812 |
$9,849,991
$1,536,907 |
$15,341,914 |
| 30 |
$28,065,162 |
$10,344,440
$1,613,747 |
$16,106,975 |
|
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