The jackpot for the MEGA Millions draw on Fri May 17, 2024, is projected to be $393 Million, with an option for a cash payout of $181.5 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
| Washington DC MEGA Millions Jackpot/Cash Option for Fri May 17, 2024 |
|---|
| Draw Date | Fri May 17, 2024 | | Projected Jackpot | $393,000,000 | | Cash Value | $181,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,500,000 | | Federal Tax(24%) | $43,560,000 | | Additional Federal Tax | $23,555,330 | | State Tax(10.75%) | $19,511,250 | | Net Lumpsum Payment | $94,873,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,915,043 |
$2,148,896
$635,867 |
$3,130,280 |
| 2 |
$6,210,972 |
$2,258,390
$667,679 |
$3,284,903 |
| 3 |
$6,521,442 |
$2,373,264
$701,055 |
$3,447,123 |
| 4 |
$6,847,632 |
$2,493,954
$736,120 |
$3,617,558 |
| 5 |
$7,189,935 |
$2,620,606
$772,918 |
$3,796,411 |
| 6 |
$7,549,530 |
$2,753,656
$811,574 |
$3,984,300 |
| 7 |
$7,926,810 |
$2,893,250
$852,132 |
$4,181,428 |
| 8 |
$8,323,347 |
$3,039,969
$894,760 |
$4,388,618 |
| 9 |
$8,739,534 |
$3,193,958
$939,500 |
$4,606,076 |
| 10 |
$9,176,550 |
$3,355,654
$986,479 |
$4,834,417 |
| 11 |
$9,635,181 |
$3,525,347
$1,035,782 |
$5,074,052 |
| 12 |
$10,116,999 |
$3,703,620
$1,087,577 |
$5,325,802 |
| 13 |
$10,622,790 |
$3,890,763
$1,141,950 |
$5,590,077 |
| 14 |
$11,154,126 |
$4,087,357
$1,199,069 |
$5,867,700 |
| 15 |
$11,711,793 |
$4,293,694
$1,259,018 |
$6,159,081 |
| 16 |
$12,297,363 |
$4,510,355
$1,321,967 |
$6,465,041 |
| 17 |
$12,912,015 |
$4,737,776
$1,388,042 |
$6,786,197 |
| 18 |
$13,557,714 |
$4,976,685
$1,457,454 |
$7,123,575 |
| 19 |
$14,235,639 |
$5,227,517
$1,530,331 |
$7,477,791 |
| 20 |
$14,947,362 |
$5,490,854
$1,606,841 |
$7,849,667 |
| 21 |
$15,694,848 |
$5,767,424
$1,687,196 |
$8,240,228 |
| 22 |
$16,479,669 |
$6,057,808
$1,771,564 |
$8,650,297 |
| 23 |
$17,303,397 |
$6,362,587
$1,860,115 |
$9,080,695 |
| 24 |
$18,168,783 |
$6,682,780
$1,953,144 |
$9,532,859 |
| 25 |
$19,077,006 |
$7,018,823
$2,050,778 |
$10,007,405 |
| 26 |
$20,031,210 |
$7,371,878
$2,153,355 |
$10,505,977 |
| 27 |
$21,032,574 |
$7,742,383
$2,261,002 |
$11,029,189 |
| 28 |
$22,084,242 |
$8,131,500
$2,374,056 |
$11,578,686 |
| 29 |
$23,188,572 |
$8,540,102
$2,492,771 |
$12,155,699 |
| 30 |
$24,347,922 |
$8,969,062
$2,617,402 |
$12,761,458 |
|
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