The jackpot for the MEGA Millions draw on Tue Jun 18, 2024, is projected to be $61 Million, with an option for a cash payout of $29.3 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 those living in Washington, the bright side is you won't have to pay any state taxes on your lottery prize.
| Washington MEGA Millions Jackpot/Cash Option for Tue Jun 18, 2024 |
|---|
| Draw Date | Tue Jun 18, 2024 | | Projected Jackpot | $61,000,000 | | Cash Value | $29,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,300,000 | | Federal Tax(24%) | $7,032,000 | | Additional Federal Tax | $3,769,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $18,498,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$918,111 |
$300,031
$0 |
$618,080 |
| 2 |
$964,044 |
$317,027
$0 |
$647,017 |
| 3 |
$1,012,234 |
$334,857
$0 |
$677,377 |
| 4 |
$1,062,864 |
$353,590
$0 |
$709,274 |
| 5 |
$1,115,995 |
$373,249
$0 |
$742,746 |
| 6 |
$1,171,810 |
$393,900
$0 |
$777,910 |
| 7 |
$1,230,370 |
$415,567
$0 |
$814,803 |
| 8 |
$1,291,919 |
$438,340
$0 |
$853,579 |
| 9 |
$1,356,518 |
$462,242
$0 |
$894,276 |
| 10 |
$1,424,350 |
$487,340
$0 |
$937,010 |
| 11 |
$1,495,537 |
$513,679
$0 |
$981,858 |
| 12 |
$1,570,323 |
$541,350
$0 |
$1,028,973 |
| 13 |
$1,648,830 |
$570,397
$0 |
$1,078,433 |
| 14 |
$1,731,302 |
$600,912
$0 |
$1,130,390 |
| 15 |
$1,817,861 |
$632,939
$0 |
$1,184,922 |
| 16 |
$1,908,751 |
$666,568
$0 |
$1,242,183 |
| 17 |
$2,004,155 |
$701,868
$0 |
$1,302,287 |
| 18 |
$2,104,378 |
$738,950
$0 |
$1,365,428 |
| 19 |
$2,209,603 |
$777,883
$0 |
$1,431,720 |
| 20 |
$2,320,074 |
$818,758
$0 |
$1,501,316 |
| 21 |
$2,436,096 |
$861,686
$0 |
$1,574,410 |
| 22 |
$2,557,913 |
$906,758
$0 |
$1,651,155 |
| 23 |
$2,685,769 |
$954,065
$0 |
$1,731,704 |
| 24 |
$2,820,091 |
$1,003,764
$0 |
$1,816,327 |
| 25 |
$2,961,062 |
$1,055,923
$0 |
$1,905,139 |
| 26 |
$3,109,170 |
$1,110,723
$0 |
$1,998,447 |
| 27 |
$3,264,598 |
$1,168,232
$0 |
$2,096,366 |
| 28 |
$3,427,834 |
$1,228,629
$0 |
$2,199,205 |
| 29 |
$3,599,244 |
$1,292,051
$0 |
$2,307,193 |
| 30 |
$3,779,194 |
$1,358,632
$0 |
$2,420,562 |
|
|
