Jackpot Analysis Delaware Mega Millions

Jackpot Analysis for Delaware Mega Millions
The jackpot for the MEGA Millions draw on Tue Feb 11, 2025, is projected to be $110 Million, with an option for a cash payout of $50.2 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 Delaware, the bright side is you won't have to pay any state taxes on your lottery prize.

Delaware MEGA Millions Jackpot/Cash Option for Tue Feb 11, 2025
Draw DateTue Feb 11, 2025
Projected Jackpot$110,000,000
Cash Value$50,200,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$50,200,000
Federal Tax(24%)$12,048,000
Additional Federal Tax$6,486,330
State Tax(0%)$0
Net Lumpsum Payment$31,665,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $1,655,610 $572,906
$0
$1,082,704
2 $1,738,440 $603,553
$0
$1,134,887
3 $1,825,340 $635,706
$0
$1,189,634
4 $1,916,640 $669,487
$0
$1,247,153
5 $2,012,450 $704,937
$0
$1,307,513
6 $2,113,100 $742,177
$0
$1,370,923
7 $2,218,700 $781,249
$0
$1,437,451
8 $2,329,690 $822,316
$0
$1,507,374
9 $2,446,180 $865,417
$0
$1,580,763
10 $2,568,500 $910,675
$0
$1,657,825
11 $2,696,870 $958,172
$0
$1,738,698
12 $2,831,730 $1,008,070
$0
$1,823,660
13 $2,973,300 $1,060,451
$0
$1,912,849
14 $3,122,020 $1,115,478
$0
$2,006,542
15 $3,278,110 $1,173,231
$0
$2,104,879
16 $3,442,010 $1,233,874
$0
$2,208,136
17 $3,614,050 $1,297,529
$0
$2,316,521
18 $3,794,780 $1,364,399
$0
$2,430,381
19 $3,984,530 $1,434,606
$0
$2,549,924
20 $4,183,740 $1,508,314
$0
$2,675,426
21 $4,392,960 $1,585,726
$0
$2,807,234
22 $4,612,630 $1,667,003
$0
$2,945,627
23 $4,843,190 $1,752,311
$0
$3,090,879
24 $5,085,410 $1,841,932
$0
$3,243,478
25 $5,339,620 $1,935,990
$0
$3,403,630
26 $5,606,700 $2,034,809
$0
$3,571,891
27 $5,886,980 $2,138,513
$0
$3,748,467
28 $6,181,340 $2,247,426
$0
$3,933,914
29 $6,490,440 $2,361,793
$0
$4,128,647
30 $6,814,940 $2,481,858
$0
$4,333,082