The jackpot for the MEGA Millions draw on Tue Dec 10, 2024, is projected to be $619 Million, with an option for a cash payout of $297.7 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 Colorado residents, the state will deduct 4% from your lottery earnings.
| Colorado MEGA Millions Jackpot/Cash Option for Tue Dec 10, 2024 |
|---|
| Draw Date | Tue Dec 10, 2024 | | Projected Jackpot | $619,000,000 | | Cash Value | $297,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $297,700,000 | | Federal Tax(24%) | $71,448,000 | | Additional Federal Tax | $38,661,330 | | State Tax(4%) | $11,908,000 | | Net Lumpsum Payment | $175,682,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,316,569 |
$3,407,461
$372,663 |
$5,536,445 |
| 2 |
$9,782,676 |
$3,579,921
$391,307 |
$5,811,448 |
| 3 |
$10,271,686 |
$3,760,854
$410,867 |
$6,099,965 |
| 4 |
$10,785,456 |
$3,950,949
$431,418 |
$6,403,089 |
| 5 |
$11,324,605 |
$4,150,434
$452,984 |
$6,721,187 |
| 6 |
$11,890,990 |
$4,359,997
$475,640 |
$7,055,353 |
| 7 |
$12,485,230 |
$4,579,865
$499,409 |
$7,405,956 |
| 8 |
$13,109,801 |
$4,810,957
$524,392 |
$7,774,452 |
| 9 |
$13,765,322 |
$5,053,500
$550,613 |
$8,161,209 |
| 10 |
$14,453,650 |
$5,308,181
$578,146 |
$8,567,323 |
| 11 |
$15,176,023 |
$5,575,459
$607,041 |
$8,993,523 |
| 12 |
$15,934,917 |
$5,856,250
$637,397 |
$9,441,270 |
| 13 |
$16,731,570 |
$6,151,011
$669,263 |
$9,911,296 |
| 14 |
$17,568,458 |
$6,460,660
$702,738 |
$10,405,060 |
| 15 |
$18,446,819 |
$6,785,653
$737,873 |
$10,923,293 |
| 16 |
$19,369,129 |
$7,126,908
$774,765 |
$11,467,456 |
| 17 |
$20,337,245 |
$7,485,111
$813,490 |
$12,038,644 |
| 18 |
$21,354,262 |
$7,861,407
$854,170 |
$12,638,685 |
| 19 |
$22,422,037 |
$8,256,484
$896,881 |
$13,268,672 |
| 20 |
$23,543,046 |
$8,671,257
$941,722 |
$13,930,067 |
| 21 |
$24,720,384 |
$9,106,872
$988,815 |
$14,624,697 |
| 22 |
$25,956,527 |
$9,564,245
$1,038,261 |
$15,354,021 |
| 23 |
$27,253,951 |
$10,044,292
$1,090,158 |
$16,119,501 |
| 24 |
$28,616,989 |
$10,548,616
$1,144,680 |
$16,923,693 |
| 25 |
$30,047,498 |
$11,077,905
$1,201,900 |
$17,767,693 |
| 26 |
$31,550,430 |
$11,633,989
$1,262,017 |
$18,654,424 |
| 27 |
$33,127,642 |
$12,217,558
$1,325,106 |
$19,584,978 |
| 28 |
$34,784,086 |
$12,830,442
$1,391,363 |
$20,562,281 |
| 29 |
$36,523,476 |
$13,474,017
$1,460,939 |
$21,588,520 |
| 30 |
$38,349,526 |
$14,149,655
$1,533,981 |
$22,665,890 |
|
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