The jackpot for the MEGA Millions draw on Tue Oct 1, 2024, is projected to be $93 Million, with an option for a cash payout of $46 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina MEGA Millions Jackpot/Cash Option for Tue Oct 1, 2024 |
|---|
| Draw Date | Tue Oct 1, 2024 | | Projected Jackpot | $93,000,000 | | Cash Value | $46,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $46,000,000 | | Federal Tax(24%) | $11,040,000 | | Additional Federal Tax | $5,940,330 | | State Tax(4.75%) | $2,185,000 | | Net Lumpsum Payment | $26,834,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,399,743 |
$478,235
$66,488 |
$855,020 |
| 2 |
$1,469,772 |
$504,146
$69,814 |
$895,812 |
| 3 |
$1,543,242 |
$531,330
$73,304 |
$938,608 |
| 4 |
$1,620,432 |
$559,890
$76,971 |
$983,571 |
| 5 |
$1,701,435 |
$589,861
$80,818 |
$1,030,756 |
| 6 |
$1,786,530 |
$621,346
$84,860 |
$1,080,324 |
| 7 |
$1,875,810 |
$654,380
$89,101 |
$1,132,329 |
| 8 |
$1,969,647 |
$689,100
$93,558 |
$1,186,989 |
| 9 |
$2,068,134 |
$725,540
$98,236 |
$1,244,358 |
| 10 |
$2,171,550 |
$763,804
$103,149 |
$1,304,597 |
| 11 |
$2,280,081 |
$803,960
$108,304 |
$1,367,817 |
| 12 |
$2,394,099 |
$846,147
$113,720 |
$1,434,232 |
| 13 |
$2,513,790 |
$890,433
$119,405 |
$1,503,952 |
| 14 |
$2,639,526 |
$936,955
$125,377 |
$1,577,194 |
| 15 |
$2,771,493 |
$985,783
$131,646 |
$1,654,064 |
| 16 |
$2,910,063 |
$1,037,054
$138,228 |
$1,734,781 |
| 17 |
$3,055,515 |
$1,090,871
$145,137 |
$1,819,507 |
| 18 |
$3,208,314 |
$1,147,407
$152,395 |
$1,908,512 |
| 19 |
$3,368,739 |
$1,206,764
$160,015 |
$2,001,960 |
| 20 |
$3,537,162 |
$1,269,080
$168,015 |
$2,100,067 |
| 21 |
$3,714,048 |
$1,334,528
$176,417 |
$2,203,103 |
| 22 |
$3,899,769 |
$1,403,245
$185,239 |
$2,311,285 |
| 23 |
$4,094,697 |
$1,475,368
$194,498 |
$2,424,831 |
| 24 |
$4,299,483 |
$1,551,139
$204,225 |
$2,544,119 |
| 25 |
$4,514,406 |
$1,630,661
$214,434 |
$2,669,311 |
| 26 |
$4,740,210 |
$1,714,208
$225,160 |
$2,800,842 |
| 27 |
$4,977,174 |
$1,801,885
$236,416 |
$2,938,873 |
| 28 |
$5,226,042 |
$1,893,966
$248,237 |
$3,083,839 |
| 29 |
$5,487,372 |
$1,990,658
$260,650 |
$3,236,064 |
| 30 |
$5,761,722 |
$2,092,168
$273,682 |
$3,395,872 |
|
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