Missouri Lottery

MOLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 10, 2024 is estimated to be $331 Million, with a cash option of 153.1 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Missouri, your state will take 4% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Missouri MEGA Millions Jackpot/Cash Option for Fri May 10, 2024

Draw Date	Jackpot	Cash Option
Fri May 10, 2024	$331,000,000	$153,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$153,100,000
Federal Tax(24%)	$36,744,000
Additional Federal Tax	$19,863,330
State Tax(4%)	$6,124,000
Net Lumpsum Payment	$90,368,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,981,881	-$1,803,626 -$199,275	$2,978,980
2	$5,231,124	-$1,895,846 -$209,245	$3,126,033
3	$5,492,614	-$1,992,598 -$219,705	$3,280,311
4	$5,767,344	-$2,094,248 -$230,694	$3,442,402
5	$6,055,645	-$2,200,919 -$242,226	$3,612,500
6	$6,358,510	-$2,312,979 -$254,340	$3,791,191
7	$6,676,270	-$2,430,550 -$267,051	$3,978,669
8	$7,010,249	-$2,554,123 -$280,410	$4,175,716
9	$7,360,778	-$2,683,818 -$294,431	$4,382,529
10	$7,728,850	-$2,820,005 -$309,154	$4,599,691
11	$8,115,127	-$2,962,927 -$324,605	$4,827,595
12	$8,520,933	-$3,113,076 -$340,837	$5,067,020
13	$8,946,930	-$3,270,694 -$357,877	$5,318,359
14	$9,394,442	-$3,436,274 -$375,778	$5,582,390
15	$9,864,131	-$3,610,059 -$394,565	$5,859,507
16	$10,357,321	-$3,792,539 -$414,293	$6,150,489
17	$10,875,005	-$3,984,082 -$435,000	$6,455,923
18	$11,418,838	-$4,185,300 -$456,754	$6,776,784
19	$11,989,813	-$4,396,561 -$479,593	$7,113,659
20	$12,589,254	-$4,618,354 -$503,570	$7,467,330
21	$13,218,816	-$4,851,292 -$528,753	$7,838,771
22	$13,879,823	-$5,095,865 -$555,193	$8,228,765
23	$14,573,599	-$5,352,562 -$582,944	$8,638,093
24	$15,302,461	-$5,622,241 -$612,098	$9,068,122
25	$16,067,402	-$5,905,269 -$642,696	$9,519,437
26	$16,871,070	-$6,202,626 -$674,843	$9,993,601
27	$17,714,458	-$6,514,680 -$708,578	$10,491,200
28	$18,600,214	-$6,842,410 -$744,009	$11,013,795
29	$19,530,324	-$7,186,550 -$781,213	$11,562,561
30	$20,506,774	-$7,547,837 -$820,271	$12,138,666