The jackpot for the MEGA Millions draw on Fri Oct 4, 2024, is projected to be $108 Million, with an option for a cash payout of $53.8 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 North Carolina residents, the state will deduct 4.75% from your lottery earnings.
| North Carolina MEGA Millions Jackpot/Cash Option for Fri Oct 4, 2024 |
|---|
| Draw Date | Fri Oct 4, 2024 | | Projected Jackpot | $108,000,000 | | Cash Value | $53,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $53,800,000 | | Federal Tax(24%) | $12,912,000 | | Additional Federal Tax | $6,954,330 | | State Tax(4.75%) | $2,555,500 | | Net Lumpsum Payment | $31,378,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,625,508 |
$561,768
$77,212 |
$986,528 |
| 2 |
$1,706,832 |
$591,858
$81,075 |
$1,033,899 |
| 3 |
$1,792,152 |
$623,427
$85,127 |
$1,083,598 |
| 4 |
$1,881,792 |
$656,593
$89,385 |
$1,135,814 |
| 5 |
$1,975,860 |
$691,399
$93,853 |
$1,190,608 |
| 6 |
$2,074,680 |
$727,962
$98,547 |
$1,248,171 |
| 7 |
$2,178,360 |
$766,324
$103,472 |
$1,308,564 |
| 8 |
$2,287,332 |
$806,643
$108,648 |
$1,372,041 |
| 9 |
$2,401,704 |
$848,961
$114,081 |
$1,438,662 |
| 10 |
$2,521,800 |
$893,396
$119,786 |
$1,508,618 |
| 11 |
$2,647,836 |
$940,030
$125,772 |
$1,582,034 |
| 12 |
$2,780,244 |
$989,021
$132,062 |
$1,659,161 |
| 13 |
$2,919,240 |
$1,040,449
$138,664 |
$1,740,127 |
| 14 |
$3,065,256 |
$1,094,475
$145,600 |
$1,825,181 |
| 15 |
$3,218,508 |
$1,151,178
$152,879 |
$1,914,451 |
| 16 |
$3,379,428 |
$1,210,719
$160,523 |
$2,008,186 |
| 17 |
$3,548,340 |
$1,273,216
$168,546 |
$2,106,578 |
| 18 |
$3,725,784 |
$1,338,870
$176,975 |
$2,209,939 |
| 19 |
$3,912,084 |
$1,407,801
$185,824 |
$2,318,459 |
| 20 |
$4,107,672 |
$1,480,169
$195,114 |
$2,432,389 |
| 21 |
$4,313,088 |
$1,556,173
$204,872 |
$2,552,043 |
| 22 |
$4,528,764 |
$1,635,973
$215,116 |
$2,677,675 |
| 23 |
$4,755,132 |
$1,719,729
$225,869 |
$2,809,534 |
| 24 |
$4,992,948 |
$1,807,721
$237,165 |
$2,948,062 |
| 25 |
$5,242,536 |
$1,900,069
$249,020 |
$3,093,447 |
| 26 |
$5,504,760 |
$1,997,092
$261,476 |
$3,246,192 |
| 27 |
$5,779,944 |
$2,098,910
$274,547 |
$3,406,487 |
| 28 |
$6,068,952 |
$2,205,843
$288,275 |
$3,574,834 |
| 29 |
$6,372,432 |
$2,318,130
$302,691 |
$3,751,611 |
| 30 |
$6,691,032 |
$2,436,012
$317,824 |
$3,937,196 |
|
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