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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana 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(3.15%) | $12,656,700 | | Net Lumpsum Payment | $240,516,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$12,040,800 |
$4,415,426
$379,285 |
$7,246,089 |
| 2 |
$12,643,200 |
$4,638,314
$398,261 |
$7,606,625 |
| 3 |
$13,275,200 |
$4,872,154
$418,169 |
$7,984,877 |
| 4 |
$13,939,200 |
$5,117,834
$439,085 |
$8,382,281 |
| 5 |
$14,636,000 |
$5,375,650
$461,034 |
$8,799,316 |
| 6 |
$15,368,000 |
$5,646,490
$484,092 |
$9,237,418 |
| 7 |
$16,136,000 |
$5,930,650
$508,284 |
$9,697,066 |
| 8 |
$16,943,200 |
$6,229,314
$533,711 |
$10,180,175 |
| 9 |
$17,790,400 |
$6,542,778
$560,398 |
$10,687,224 |
| 10 |
$18,680,000 |
$6,871,930
$588,420 |
$11,219,650 |
| 11 |
$19,613,600 |
$7,217,362
$617,828 |
$11,778,410 |
| 12 |
$20,594,400 |
$7,580,258
$648,724 |
$12,365,418 |
| 13 |
$21,624,000 |
$7,961,210
$681,156 |
$12,981,634 |
| 14 |
$22,705,600 |
$8,361,402
$715,226 |
$13,628,972 |
| 15 |
$23,840,800 |
$8,781,426
$750,985 |
$14,308,389 |
| 16 |
$25,032,800 |
$9,222,466
$788,533 |
$15,021,801 |
| 17 |
$26,284,000 |
$9,685,410
$827,946 |
$15,770,644 |
| 18 |
$27,598,400 |
$10,171,738
$869,350 |
$16,557,312 |
| 19 |
$28,978,400 |
$10,682,338
$912,820 |
$17,383,242 |
| 20 |
$30,427,200 |
$11,218,394
$958,457 |
$18,250,349 |
| 21 |
$31,948,800 |
$11,781,386
$1,006,387 |
$19,161,027 |
| 22 |
$33,546,400 |
$12,372,498
$1,056,712 |
$20,117,190 |
| 23 |
$35,223,200 |
$12,992,914
$1,109,531 |
$21,120,755 |
| 24 |
$36,984,800 |
$13,644,706
$1,165,021 |
$22,175,073 |
| 25 |
$38,833,600 |
$14,328,762
$1,223,258 |
$23,281,580 |
| 26 |
$40,776,000 |
$15,047,450
$1,284,444 |
$24,444,106 |
| 27 |
$42,814,400 |
$15,801,658
$1,348,654 |
$25,664,088 |
| 28 |
$44,955,200 |
$16,593,754
$1,416,089 |
$26,945,357 |
| 29 |
$47,203,200 |
$17,425,514
$1,486,901 |
$28,290,785 |
| 30 |
$49,563,200 |
$18,298,714
$1,561,241 |
$29,703,245 |
|
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