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 Pennsylvania residents, the state will deduct 3.07% from your lottery earnings.
| Pennsylvania 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(3.07%) | $6,434,720 | | Net Lumpsum Payment | $125,652,950 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$209,316 |
$4,125,759 |
| 2 |
$7,159,212 |
$2,609,239
$219,788 |
$4,330,185 |
| 3 |
$7,517,082 |
$2,741,651
$230,774 |
$4,544,657 |
| 4 |
$7,893,072 |
$2,880,767
$242,317 |
$4,769,988 |
| 5 |
$8,287,635 |
$3,026,755
$254,430 |
$5,006,450 |
| 6 |
$8,702,130 |
$3,180,118
$267,155 |
$5,254,857 |
| 7 |
$9,137,010 |
$3,341,024
$280,506 |
$5,515,480 |
| 8 |
$9,594,087 |
$3,510,143
$294,538 |
$5,789,406 |
| 9 |
$10,073,814 |
$3,687,642
$309,266 |
$6,076,906 |
| 10 |
$10,577,550 |
$3,874,024
$324,731 |
$6,378,795 |
| 11 |
$11,106,201 |
$4,069,625
$340,960 |
$6,695,616 |
| 12 |
$11,661,579 |
$4,275,115
$358,010 |
$7,028,454 |
| 13 |
$12,244,590 |
$4,490,829
$375,909 |
$7,377,852 |
| 14 |
$12,857,046 |
$4,717,437
$394,711 |
$7,744,898 |
| 15 |
$13,499,853 |
$4,955,276
$414,445 |
$8,130,132 |
| 16 |
$14,174,823 |
$5,205,015
$435,167 |
$8,534,641 |
| 17 |
$14,883,315 |
$5,467,157
$456,918 |
$8,959,240 |
| 18 |
$15,627,594 |
$5,742,540
$479,767 |
$9,405,287 |
| 19 |
$16,409,019 |
$6,031,667
$503,757 |
$9,873,595 |
| 20 |
$17,229,402 |
$6,335,209
$528,943 |
$10,365,250 |
| 21 |
$18,091,008 |
$6,654,003
$555,394 |
$10,881,611 |
| 22 |
$18,995,649 |
$6,988,721
$583,166 |
$11,423,762 |
| 23 |
$19,945,137 |
$7,340,031
$612,316 |
$11,992,790 |
| 24 |
$20,942,643 |
$7,709,108
$642,939 |
$12,590,596 |
| 25 |
$21,989,526 |
$8,096,455
$675,078 |
$13,217,993 |
| 26 |
$23,089,410 |
$8,503,412
$708,845 |
$13,877,153 |
| 27 |
$24,243,654 |
$8,930,482
$744,280 |
$14,568,892 |
| 28 |
$25,455,882 |
$9,379,007
$781,496 |
$15,295,379 |
| 29 |
$26,728,812 |
$9,849,991
$820,575 |
$16,058,246 |
| 30 |
$28,065,162 |
$10,344,440
$861,600 |
$16,859,122 |
|
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