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 New Mexico residents, the state will deduct 5.9% from your lottery earnings.
| New Mexico 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(5.9%) | $12,366,400 | | Net Lumpsum Payment | $119,721,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$402,268 |
$3,932,807 |
| 2 |
$7,159,212 |
$2,609,239
$422,394 |
$4,127,579 |
| 3 |
$7,517,082 |
$2,741,651
$443,508 |
$4,331,923 |
| 4 |
$7,893,072 |
$2,880,767
$465,691 |
$4,546,614 |
| 5 |
$8,287,635 |
$3,026,755
$488,970 |
$4,771,910 |
| 6 |
$8,702,130 |
$3,180,118
$513,426 |
$5,008,586 |
| 7 |
$9,137,010 |
$3,341,024
$539,084 |
$5,256,902 |
| 8 |
$9,594,087 |
$3,510,143
$566,051 |
$5,517,893 |
| 9 |
$10,073,814 |
$3,687,642
$594,355 |
$5,791,817 |
| 10 |
$10,577,550 |
$3,874,024
$624,075 |
$6,079,451 |
| 11 |
$11,106,201 |
$4,069,625
$655,266 |
$6,381,310 |
| 12 |
$11,661,579 |
$4,275,115
$688,033 |
$6,698,431 |
| 13 |
$12,244,590 |
$4,490,829
$722,431 |
$7,031,330 |
| 14 |
$12,857,046 |
$4,717,437
$758,566 |
$7,381,043 |
| 15 |
$13,499,853 |
$4,955,276
$796,491 |
$7,748,086 |
| 16 |
$14,174,823 |
$5,205,015
$836,315 |
$8,133,493 |
| 17 |
$14,883,315 |
$5,467,157
$878,116 |
$8,538,042 |
| 18 |
$15,627,594 |
$5,742,540
$922,028 |
$8,963,026 |
| 19 |
$16,409,019 |
$6,031,667
$968,132 |
$9,409,220 |
| 20 |
$17,229,402 |
$6,335,209
$1,016,535 |
$9,877,658 |
| 21 |
$18,091,008 |
$6,654,003
$1,067,369 |
$10,369,636 |
| 22 |
$18,995,649 |
$6,988,721
$1,120,743 |
$10,886,185 |
| 23 |
$19,945,137 |
$7,340,031
$1,176,763 |
$11,428,343 |
| 24 |
$20,942,643 |
$7,709,108
$1,235,616 |
$11,997,919 |
| 25 |
$21,989,526 |
$8,096,455
$1,297,382 |
$12,595,689 |
| 26 |
$23,089,410 |
$8,503,412
$1,362,275 |
$13,223,723 |
| 27 |
$24,243,654 |
$8,930,482
$1,430,376 |
$13,882,796 |
| 28 |
$25,455,882 |
$9,379,007
$1,501,897 |
$14,574,978 |
| 29 |
$26,728,812 |
$9,849,991
$1,577,000 |
$15,301,821 |
| 30 |
$28,065,162 |
$10,344,440
$1,655,845 |
$16,064,877 |
|
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