The jackpot for the MEGA Millions draw on Tue Sep 17, 2024, is projected to be $31 Million, with an option for a cash payout of $15.6 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 Maine residents, the state will deduct 5% from your lottery earnings.
| Maine MEGA Millions Jackpot/Cash Option for Tue Sep 17, 2024 |
|---|
| Draw Date | Tue Sep 17, 2024 | | Projected Jackpot | $31,000,000 | | Cash Value | $15,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $15,600,000 | | Federal Tax(24%) | $3,744,000 | | Additional Federal Tax | $1,988,330 | | State Tax(5%) | $780,000 | | Net Lumpsum Payment | $9,087,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$466,581 |
$132,965
$23,329 |
$310,287 |
| 2 |
$489,924 |
$141,602
$24,496 |
$323,826 |
| 3 |
$514,414 |
$150,664
$25,721 |
$338,029 |
| 4 |
$540,144 |
$160,184
$27,007 |
$352,953 |
| 5 |
$567,145 |
$170,174
$28,357 |
$368,614 |
| 6 |
$595,510 |
$180,669
$29,776 |
$385,065 |
| 7 |
$625,270 |
$191,680
$31,264 |
$402,326 |
| 8 |
$656,549 |
$203,254
$32,827 |
$420,468 |
| 9 |
$689,378 |
$215,400
$34,469 |
$439,509 |
| 10 |
$723,850 |
$228,155
$36,193 |
$459,502 |
| 11 |
$760,027 |
$241,540
$38,001 |
$480,486 |
| 12 |
$798,033 |
$255,603
$39,902 |
$502,528 |
| 13 |
$837,930 |
$270,364
$41,897 |
$525,669 |
| 14 |
$879,842 |
$285,872
$43,992 |
$549,978 |
| 15 |
$923,831 |
$302,148
$46,192 |
$575,491 |
| 16 |
$970,021 |
$319,238
$48,501 |
$602,282 |
| 17 |
$1,018,505 |
$337,177
$50,925 |
$630,403 |
| 18 |
$1,069,438 |
$356,022
$53,472 |
$659,944 |
| 19 |
$1,122,913 |
$375,808
$56,146 |
$690,959 |
| 20 |
$1,179,054 |
$396,580
$58,953 |
$723,521 |
| 21 |
$1,238,016 |
$418,396
$61,901 |
$757,719 |
| 22 |
$1,299,923 |
$441,302
$64,996 |
$793,625 |
| 23 |
$1,364,899 |
$465,343
$68,245 |
$831,311 |
| 24 |
$1,433,161 |
$490,600
$71,658 |
$870,903 |
| 25 |
$1,504,802 |
$517,107
$75,240 |
$912,455 |
| 26 |
$1,580,070 |
$544,956
$79,004 |
$956,110 |
| 27 |
$1,659,058 |
$574,182
$82,953 |
$1,001,923 |
| 28 |
$1,742,014 |
$604,876
$87,101 |
$1,050,037 |
| 29 |
$1,829,124 |
$637,106
$91,456 |
$1,100,562 |
| 30 |
$1,920,574 |
$670,943
$96,029 |
$1,153,602 |
|
|
