The jackpot for the MEGA Millions draw on Fri Dec 6, 2024, is projected to be $579 Million, with an option for a cash payout of $276.6 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 New York residents, the state will deduct 8.82% from your lottery earnings.
| New York MEGA Millions Jackpot/Cash Option for Fri Dec 6, 2024 |
|---|
| Draw Date | Fri Dec 6, 2024 | | Projected Jackpot | $579,000,000 | | Cash Value | $276,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $276,600,000 | | Federal Tax(24%) | $66,384,000 | | Additional Federal Tax | $35,918,330 | | State Tax(8.82%) | $24,396,120 | | Net Lumpsum Payment | $149,901,550 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,714,529 |
$3,184,706
$768,621 |
$4,761,202 |
| 2 |
$9,150,516 |
$3,346,021
$807,076 |
$4,997,419 |
| 3 |
$9,607,926 |
$3,515,263
$847,419 |
$5,245,244 |
| 4 |
$10,088,496 |
$3,693,074
$889,805 |
$5,505,617 |
| 5 |
$10,592,805 |
$3,879,668
$934,285 |
$5,778,852 |
| 6 |
$11,122,590 |
$4,075,689
$981,012 |
$6,065,889 |
| 7 |
$11,678,430 |
$4,281,349
$1,030,038 |
$6,367,043 |
| 8 |
$12,262,641 |
$4,497,508
$1,081,565 |
$6,683,568 |
| 9 |
$12,875,802 |
$4,724,377
$1,135,646 |
$7,015,779 |
| 10 |
$13,519,650 |
$4,962,601
$1,192,433 |
$7,364,616 |
| 11 |
$14,195,343 |
$5,212,607
$1,252,029 |
$7,730,707 |
| 12 |
$14,905,197 |
$5,475,253
$1,314,638 |
$8,115,306 |
| 13 |
$15,650,370 |
$5,750,967
$1,380,363 |
$8,519,040 |
| 14 |
$16,433,178 |
$6,040,606
$1,449,406 |
$8,943,166 |
| 15 |
$17,254,779 |
$6,344,599
$1,521,872 |
$9,388,308 |
| 16 |
$18,117,489 |
$6,663,801
$1,597,963 |
$9,855,725 |
| 17 |
$19,023,045 |
$6,998,857
$1,677,833 |
$10,346,355 |
| 18 |
$19,974,342 |
$7,350,837
$1,761,737 |
$10,861,768 |
| 19 |
$20,973,117 |
$7,720,384
$1,849,829 |
$11,402,904 |
| 20 |
$22,021,686 |
$8,108,354
$1,942,313 |
$11,971,019 |
| 21 |
$23,122,944 |
$8,515,820
$2,039,444 |
$12,567,680 |
| 22 |
$24,279,207 |
$8,943,637
$2,141,426 |
$13,194,144 |
| 23 |
$25,492,791 |
$9,392,663
$2,248,464 |
$13,851,664 |
| 24 |
$26,767,749 |
$9,864,398
$2,360,915 |
$14,542,436 |
| 25 |
$28,105,818 |
$10,359,483
$2,478,933 |
$15,267,402 |
| 26 |
$29,511,630 |
$10,879,633
$2,602,926 |
$16,029,071 |
| 27 |
$30,986,922 |
$11,425,492
$2,733,047 |
$16,828,383 |
| 28 |
$32,536,326 |
$11,998,771
$2,869,704 |
$17,667,851 |
| 29 |
$34,163,316 |
$12,600,757
$3,013,204 |
$18,549,355 |
| 30 |
$35,871,366 |
$13,232,736
$3,163,854 |
$19,474,776 |
|
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