The jackpot for the MEGA Millions draw on Fri Jan 17, 2025, is projected to be $113 Million, with an option for a cash payout of $49.2 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana MEGA Millions Jackpot/Cash Option for Fri Jan 17, 2025 |
|---|
| Draw Date | Fri Jan 17, 2025 | | Projected Jackpot | $113,000,000 | | Cash Value | $49,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $49,200,000 | | Federal Tax(24%) | $11,808,000 | | Additional Federal Tax | $6,356,330 | | State Tax(6.75%) | $3,321,000 | | Net Lumpsum Payment | $27,714,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,700,763 |
$589,613
$114,802 |
$996,348 |
| 2 |
$1,785,852 |
$621,096
$120,545 |
$1,044,211 |
| 3 |
$1,875,122 |
$654,126
$126,571 |
$1,094,425 |
| 4 |
$1,968,912 |
$688,828
$132,902 |
$1,147,182 |
| 5 |
$2,067,335 |
$725,244
$139,545 |
$1,202,546 |
| 6 |
$2,170,730 |
$763,500
$146,524 |
$1,260,706 |
| 7 |
$2,279,210 |
$803,638
$153,847 |
$1,321,725 |
| 8 |
$2,393,227 |
$845,824
$161,543 |
$1,385,860 |
| 9 |
$2,512,894 |
$890,101
$169,620 |
$1,453,173 |
| 10 |
$2,638,550 |
$936,594
$178,102 |
$1,523,854 |
| 11 |
$2,770,421 |
$985,386
$187,003 |
$1,598,032 |
| 12 |
$2,908,959 |
$1,036,645
$196,355 |
$1,675,959 |
| 13 |
$3,054,390 |
$1,090,455
$206,171 |
$1,757,764 |
| 14 |
$3,207,166 |
$1,146,982
$216,484 |
$1,843,700 |
| 15 |
$3,367,513 |
$1,206,310
$227,307 |
$1,933,896 |
| 16 |
$3,535,883 |
$1,268,607
$238,672 |
$2,028,604 |
| 17 |
$3,712,615 |
$1,333,998
$250,602 |
$2,128,015 |
| 18 |
$3,898,274 |
$1,402,692
$263,133 |
$2,232,449 |
| 19 |
$4,093,199 |
$1,474,814
$276,291 |
$2,342,094 |
| 20 |
$4,297,842 |
$1,550,532
$290,104 |
$2,457,206 |
| 21 |
$4,512,768 |
$1,630,055
$304,612 |
$2,578,101 |
| 22 |
$4,738,429 |
$1,713,549
$319,844 |
$2,705,036 |
| 23 |
$4,975,277 |
$1,801,183
$335,831 |
$2,838,263 |
| 24 |
$5,224,103 |
$1,893,248
$352,627 |
$2,978,228 |
| 25 |
$5,485,246 |
$1,989,871
$370,254 |
$3,125,121 |
| 26 |
$5,759,610 |
$2,091,386
$388,774 |
$3,279,450 |
| 27 |
$6,047,534 |
$2,197,918
$408,209 |
$3,441,407 |
| 28 |
$6,349,922 |
$2,309,802
$428,620 |
$3,611,500 |
| 29 |
$6,667,452 |
$2,427,288
$450,053 |
$3,790,111 |
| 30 |
$7,000,802 |
$2,550,627
$472,554 |
$3,977,621 |
|
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