The jackpot for the MEGA Millions draw on Tue Jun 4, 2024, is projected to be $560 Million, with an option for a cash payout of $258.4 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 Tue Jun 4, 2024 |
|---|
| Draw Date | Tue Jun 4, 2024 | | Projected Jackpot | $560,000,000 | | Cash Value | $258,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $258,400,000 | | Federal Tax(24%) | $62,016,000 | | Additional Federal Tax | $33,552,330 | | State Tax(10.75%) | $27,778,000 | | Net Lumpsum Payment | $135,053,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,428,560 |
$3,078,898
$906,070 |
$4,443,592 |
| 2 |
$8,850,240 |
$3,234,919
$951,401 |
$4,663,920 |
| 3 |
$9,292,640 |
$3,398,607
$998,959 |
$4,895,074 |
| 4 |
$9,757,440 |
$3,570,583
$1,048,925 |
$5,137,932 |
| 5 |
$10,245,200 |
$3,751,054
$1,101,359 |
$5,392,787 |
| 6 |
$10,757,600 |
$3,940,642
$1,156,442 |
$5,660,516 |
| 7 |
$11,295,200 |
$4,139,554
$1,214,234 |
$5,941,412 |
| 8 |
$11,860,240 |
$4,348,619
$1,274,976 |
$6,236,645 |
| 9 |
$12,453,280 |
$4,568,044
$1,338,728 |
$6,546,508 |
| 10 |
$13,076,000 |
$4,798,450
$1,405,670 |
$6,871,880 |
| 11 |
$13,729,520 |
$5,040,253
$1,475,923 |
$7,213,344 |
| 12 |
$14,416,080 |
$5,294,280
$1,549,729 |
$7,572,071 |
| 13 |
$15,136,800 |
$5,560,946
$1,627,206 |
$7,948,648 |
| 14 |
$15,893,920 |
$5,841,081
$1,708,596 |
$8,344,243 |
| 15 |
$16,688,560 |
$6,135,098
$1,794,020 |
$8,759,442 |
| 16 |
$17,522,960 |
$6,443,826
$1,883,718 |
$9,195,416 |
| 17 |
$18,398,800 |
$6,767,886
$1,977,871 |
$9,653,043 |
| 18 |
$19,318,880 |
$7,108,316
$2,076,780 |
$10,133,784 |
| 19 |
$20,284,880 |
$7,465,736
$2,180,625 |
$10,638,519 |
| 20 |
$21,299,040 |
$7,840,975
$2,289,647 |
$11,168,418 |
| 21 |
$22,364,160 |
$8,235,070
$2,404,147 |
$11,724,943 |
| 22 |
$23,482,480 |
$8,648,848
$2,524,367 |
$12,309,265 |
| 23 |
$24,656,240 |
$9,083,139
$2,650,546 |
$12,922,555 |
| 24 |
$25,889,360 |
$9,539,394
$2,783,106 |
$13,566,860 |
| 25 |
$27,183,520 |
$10,018,233
$2,922,228 |
$14,243,059 |
| 26 |
$28,543,200 |
$10,521,314
$3,068,394 |
$14,953,492 |
| 27 |
$29,970,080 |
$11,049,260
$3,221,784 |
$15,699,036 |
| 28 |
$31,468,640 |
$11,603,727
$3,382,879 |
$16,482,034 |
| 29 |
$33,042,240 |
$12,185,959
$3,552,041 |
$17,304,240 |
| 30 |
$34,694,240 |
$12,797,199
$3,729,631 |
$18,167,410 |
|
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