The jackpot for the MEGA Millions draw on Fri Oct 11, 2024, is projected to be $150 Million, with an option for a cash payout of $71.5 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana MEGA Millions Jackpot/Cash Option for Fri Oct 11, 2024 |
|---|
| Draw Date | Fri Oct 11, 2024 | | Projected Jackpot | $150,000,000 | | Cash Value | $71,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $71,500,000 | | Federal Tax(24%) | $17,160,000 | | Additional Federal Tax | $9,255,330 | | State Tax(6.75%) | $4,826,250 | | Net Lumpsum Payment | $40,258,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,257,650 |
$795,661
$152,391 |
$1,309,598 |
| 2 |
$2,370,600 |
$837,452
$160,016 |
$1,373,132 |
| 3 |
$2,489,100 |
$881,297
$168,014 |
$1,439,789 |
| 4 |
$2,613,600 |
$927,362
$176,418 |
$1,509,820 |
| 5 |
$2,744,250 |
$975,703
$185,237 |
$1,583,310 |
| 6 |
$2,881,500 |
$1,026,485
$194,501 |
$1,660,514 |
| 7 |
$3,025,500 |
$1,079,765
$204,221 |
$1,741,514 |
| 8 |
$3,176,850 |
$1,135,765
$214,437 |
$1,826,648 |
| 9 |
$3,335,700 |
$1,194,539
$225,160 |
$1,916,001 |
| 10 |
$3,502,500 |
$1,256,255
$236,419 |
$2,009,826 |
| 11 |
$3,677,550 |
$1,321,024
$248,235 |
$2,108,291 |
| 12 |
$3,861,450 |
$1,389,067
$260,648 |
$2,211,735 |
| 13 |
$4,054,500 |
$1,460,495
$273,679 |
$2,320,326 |
| 14 |
$4,257,300 |
$1,535,531
$287,368 |
$2,434,401 |
| 15 |
$4,470,150 |
$1,614,286
$301,735 |
$2,554,129 |
| 16 |
$4,693,650 |
$1,696,981
$316,821 |
$2,679,848 |
| 17 |
$4,928,250 |
$1,783,783
$332,657 |
$2,811,810 |
| 18 |
$5,174,700 |
$1,874,969
$349,292 |
$2,950,439 |
| 19 |
$5,433,450 |
$1,970,707
$366,758 |
$3,095,985 |
| 20 |
$5,705,100 |
$2,071,217
$385,094 |
$3,248,789 |
| 21 |
$5,990,400 |
$2,176,778
$404,352 |
$3,409,270 |
| 22 |
$6,289,950 |
$2,287,612
$424,572 |
$3,577,766 |
| 23 |
$6,604,350 |
$2,403,940
$445,794 |
$3,754,616 |
| 24 |
$6,934,650 |
$2,526,151
$468,089 |
$3,940,410 |
| 25 |
$7,281,300 |
$2,654,411
$491,488 |
$4,135,401 |
| 26 |
$7,645,500 |
$2,789,165
$516,071 |
$4,340,264 |
| 27 |
$8,027,700 |
$2,930,579
$541,870 |
$4,555,251 |
| 28 |
$8,429,100 |
$3,079,097
$568,964 |
$4,781,039 |
| 29 |
$8,850,600 |
$3,235,052
$597,416 |
$5,018,132 |
| 30 |
$9,293,100 |
$3,398,777
$627,284 |
$5,267,039 |
|
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