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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana 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(6.75%) | $12,251,250 | | Net Lumpsum Payment | $102,133,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,915,043 |
$2,148,896
$399,265 |
$3,366,882 |
| 2 |
$6,210,972 |
$2,258,390
$419,241 |
$3,533,341 |
| 3 |
$6,521,442 |
$2,373,264
$440,197 |
$3,707,981 |
| 4 |
$6,847,632 |
$2,493,954
$462,215 |
$3,891,463 |
| 5 |
$7,189,935 |
$2,620,606
$485,321 |
$4,084,008 |
| 6 |
$7,549,530 |
$2,753,656
$509,593 |
$4,286,281 |
| 7 |
$7,926,810 |
$2,893,250
$535,060 |
$4,498,500 |
| 8 |
$8,323,347 |
$3,039,969
$561,826 |
$4,721,552 |
| 9 |
$8,739,534 |
$3,193,958
$589,919 |
$4,955,657 |
| 10 |
$9,176,550 |
$3,355,654
$619,417 |
$5,201,479 |
| 11 |
$9,635,181 |
$3,525,347
$650,375 |
$5,459,459 |
| 12 |
$10,116,999 |
$3,703,620
$682,897 |
$5,730,482 |
| 13 |
$10,622,790 |
$3,890,763
$717,038 |
$6,014,989 |
| 14 |
$11,154,126 |
$4,087,357
$752,904 |
$6,313,865 |
| 15 |
$11,711,793 |
$4,293,694
$790,546 |
$6,627,553 |
| 16 |
$12,297,363 |
$4,510,355
$830,072 |
$6,956,936 |
| 17 |
$12,912,015 |
$4,737,776
$871,561 |
$7,302,678 |
| 18 |
$13,557,714 |
$4,976,685
$915,146 |
$7,665,883 |
| 19 |
$14,235,639 |
$5,227,517
$960,906 |
$8,047,216 |
| 20 |
$14,947,362 |
$5,490,854
$1,008,947 |
$8,447,561 |
| 21 |
$15,694,848 |
$5,767,424
$1,059,402 |
$8,868,022 |
| 22 |
$16,479,669 |
$6,057,808
$1,112,378 |
$9,309,483 |
| 23 |
$17,303,397 |
$6,362,587
$1,167,979 |
$9,772,831 |
| 24 |
$18,168,783 |
$6,682,780
$1,226,393 |
$10,259,610 |
| 25 |
$19,077,006 |
$7,018,823
$1,287,698 |
$10,770,485 |
| 26 |
$20,031,210 |
$7,371,878
$1,352,107 |
$11,307,225 |
| 27 |
$21,032,574 |
$7,742,383
$1,419,699 |
$11,870,492 |
| 28 |
$22,084,242 |
$8,131,500
$1,490,686 |
$12,462,056 |
| 29 |
$23,188,572 |
$8,540,102
$1,565,229 |
$13,083,241 |
| 30 |
$24,347,922 |
$8,969,062
$1,643,485 |
$13,735,375 |
|
|
