The jackpot for the MEGA Millions draw on Tue Sep 10, 2024, is projected to be $800 Million, with an option for a cash payout of $401.8 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 Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia MEGA Millions Jackpot/Cash Option for Tue Sep 10, 2024 |
|---|
| Draw Date | Tue Sep 10, 2024 | | Projected Jackpot | $800,000,000 | | Cash Value | $401,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $401,800,000 | | Federal Tax(24%) | $96,432,000 | | Additional Federal Tax | $52,194,330 | | State Tax(5.75%) | $23,103,500 | | Net Lumpsum Payment | $230,070,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$12,040,800 |
$4,415,426
$692,346 |
$6,933,028 |
| 2 |
$12,643,200 |
$4,638,314
$726,984 |
$7,277,902 |
| 3 |
$13,275,200 |
$4,872,154
$763,324 |
$7,639,722 |
| 4 |
$13,939,200 |
$5,117,834
$801,504 |
$8,019,862 |
| 5 |
$14,636,000 |
$5,375,650
$841,570 |
$8,418,780 |
| 6 |
$15,368,000 |
$5,646,490
$883,660 |
$8,837,850 |
| 7 |
$16,136,000 |
$5,930,650
$927,820 |
$9,277,530 |
| 8 |
$16,943,200 |
$6,229,314
$974,234 |
$9,739,652 |
| 9 |
$17,790,400 |
$6,542,778
$1,022,948 |
$10,224,674 |
| 10 |
$18,680,000 |
$6,871,930
$1,074,100 |
$10,733,970 |
| 11 |
$19,613,600 |
$7,217,362
$1,127,782 |
$11,268,456 |
| 12 |
$20,594,400 |
$7,580,258
$1,184,178 |
$11,829,964 |
| 13 |
$21,624,000 |
$7,961,210
$1,243,380 |
$12,419,410 |
| 14 |
$22,705,600 |
$8,361,402
$1,305,572 |
$13,038,626 |
| 15 |
$23,840,800 |
$8,781,426
$1,370,846 |
$13,688,528 |
| 16 |
$25,032,800 |
$9,222,466
$1,439,386 |
$14,370,948 |
| 17 |
$26,284,000 |
$9,685,410
$1,511,330 |
$15,087,260 |
| 18 |
$27,598,400 |
$10,171,738
$1,586,908 |
$15,839,754 |
| 19 |
$28,978,400 |
$10,682,338
$1,666,258 |
$16,629,804 |
| 20 |
$30,427,200 |
$11,218,394
$1,749,564 |
$17,459,242 |
| 21 |
$31,948,800 |
$11,781,386
$1,837,056 |
$18,330,358 |
| 22 |
$33,546,400 |
$12,372,498
$1,928,918 |
$19,244,984 |
| 23 |
$35,223,200 |
$12,992,914
$2,025,334 |
$20,204,952 |
| 24 |
$36,984,800 |
$13,644,706
$2,126,626 |
$21,213,468 |
| 25 |
$38,833,600 |
$14,328,762
$2,232,932 |
$22,271,906 |
| 26 |
$40,776,000 |
$15,047,450
$2,344,620 |
$23,383,930 |
| 27 |
$42,814,400 |
$15,801,658
$2,461,828 |
$24,550,914 |
| 28 |
$44,955,200 |
$16,593,754
$2,584,924 |
$25,776,522 |
| 29 |
$47,203,200 |
$17,425,514
$2,714,184 |
$27,063,502 |
| 30 |
$49,563,200 |
$18,298,714
$2,849,884 |
$28,414,602 |
|
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