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 Louisiana residents, the state will deduct 4.75% from your lottery earnings.
| Louisiana 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(4.75%) | $8,621,250 | | Net Lumpsum Payment | $105,763,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,915,043 |
$2,148,896
$280,965 |
$3,485,182 |
| 2 |
$6,210,972 |
$2,258,390
$295,021 |
$3,657,561 |
| 3 |
$6,521,442 |
$2,373,264
$309,768 |
$3,838,410 |
| 4 |
$6,847,632 |
$2,493,954
$325,263 |
$4,028,415 |
| 5 |
$7,189,935 |
$2,620,606
$341,522 |
$4,227,807 |
| 6 |
$7,549,530 |
$2,753,656
$358,603 |
$4,437,271 |
| 7 |
$7,926,810 |
$2,893,250
$376,523 |
$4,657,037 |
| 8 |
$8,323,347 |
$3,039,969
$395,359 |
$4,888,019 |
| 9 |
$8,739,534 |
$3,193,958
$415,128 |
$5,130,448 |
| 10 |
$9,176,550 |
$3,355,654
$435,886 |
$5,385,010 |
| 11 |
$9,635,181 |
$3,525,347
$457,671 |
$5,652,163 |
| 12 |
$10,116,999 |
$3,703,620
$480,557 |
$5,932,822 |
| 13 |
$10,622,790 |
$3,890,763
$504,583 |
$6,227,444 |
| 14 |
$11,154,126 |
$4,087,357
$529,821 |
$6,536,948 |
| 15 |
$11,711,793 |
$4,293,694
$556,310 |
$6,861,789 |
| 16 |
$12,297,363 |
$4,510,355
$584,125 |
$7,202,883 |
| 17 |
$12,912,015 |
$4,737,776
$613,321 |
$7,560,918 |
| 18 |
$13,557,714 |
$4,976,685
$643,991 |
$7,937,038 |
| 19 |
$14,235,639 |
$5,227,517
$676,193 |
$8,331,929 |
| 20 |
$14,947,362 |
$5,490,854
$710,000 |
$8,746,508 |
| 21 |
$15,694,848 |
$5,767,424
$745,505 |
$9,181,919 |
| 22 |
$16,479,669 |
$6,057,808
$782,784 |
$9,639,077 |
| 23 |
$17,303,397 |
$6,362,587
$821,911 |
$10,118,899 |
| 24 |
$18,168,783 |
$6,682,780
$863,017 |
$10,622,986 |
| 25 |
$19,077,006 |
$7,018,823
$906,158 |
$11,152,025 |
| 26 |
$20,031,210 |
$7,371,878
$951,482 |
$11,707,850 |
| 27 |
$21,032,574 |
$7,742,383
$999,047 |
$12,291,144 |
| 28 |
$22,084,242 |
$8,131,500
$1,049,001 |
$12,903,741 |
| 29 |
$23,188,572 |
$8,540,102
$1,101,457 |
$13,547,013 |
| 30 |
$24,347,922 |
$8,969,062
$1,156,526 |
$14,222,334 |
|
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