The jackpot for the MEGA Millions draw on Fri Sep 13, 2024, is projected to be $20 Million, with an option for a cash payout of $10.1 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 Ohio residents, the state will deduct 3.99% from your lottery earnings.
| Ohio MEGA Millions Jackpot/Cash Option for Fri Sep 13, 2024 |
|---|
| Draw Date | Fri Sep 13, 2024 | | Projected Jackpot | $20,000,000 | | Cash Value | $10,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $10,100,000 | | Federal Tax(24%) | $2,424,000 | | Additional Federal Tax | $1,273,330 | | State Tax(3.99%) | $402,990 | | Net Lumpsum Payment | $5,999,680 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$301,020 |
$71,708
$12,011 |
$217,301 |
| 2 |
$316,080 |
$77,280
$12,612 |
$226,188 |
| 3 |
$331,880 |
$83,126
$13,242 |
$235,512 |
| 4 |
$348,480 |
$89,268
$13,904 |
$245,308 |
| 5 |
$365,900 |
$95,713
$14,599 |
$255,588 |
| 6 |
$384,200 |
$102,484
$15,330 |
$266,386 |
| 7 |
$403,400 |
$109,588
$16,096 |
$277,716 |
| 8 |
$423,580 |
$117,055
$16,901 |
$289,624 |
| 9 |
$444,760 |
$124,892
$17,746 |
$302,122 |
| 10 |
$467,000 |
$133,120
$18,633 |
$315,247 |
| 11 |
$490,340 |
$141,756
$19,565 |
$329,019 |
| 12 |
$514,860 |
$150,829
$20,543 |
$343,488 |
| 13 |
$540,600 |
$160,352
$21,570 |
$358,678 |
| 14 |
$567,640 |
$170,357
$22,649 |
$374,634 |
| 15 |
$596,020 |
$180,858
$23,781 |
$391,381 |
| 16 |
$625,820 |
$191,884
$24,970 |
$408,966 |
| 17 |
$657,100 |
$203,457
$26,218 |
$427,425 |
| 18 |
$689,960 |
$215,616
$27,529 |
$446,815 |
| 19 |
$724,460 |
$228,381
$28,906 |
$467,173 |
| 20 |
$760,680 |
$241,782
$30,351 |
$488,547 |
| 21 |
$798,720 |
$255,857
$31,869 |
$510,994 |
| 22 |
$838,660 |
$270,635
$33,463 |
$534,562 |
| 23 |
$880,580 |
$286,145
$35,135 |
$559,300 |
| 24 |
$924,620 |
$302,440
$36,892 |
$585,288 |
| 25 |
$970,840 |
$319,541
$38,737 |
$612,562 |
| 26 |
$1,019,400 |
$337,508
$40,674 |
$641,218 |
| 27 |
$1,070,360 |
$356,364
$42,707 |
$671,289 |
| 28 |
$1,123,880 |
$376,166
$44,843 |
$702,871 |
| 29 |
$1,180,080 |
$396,960
$47,085 |
$736,035 |
| 30 |
$1,239,080 |
$418,790
$49,439 |
$770,851 |
|
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