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 |
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Draw Date | Tue Feb 11, 2025 | Projected Jackpot | $110,000,000 | Cash Value | $50,200,000 |
Lumpsum Option Taxes and Payment |
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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 |
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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 |
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