New Hampshire Lottery

NHLottery 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. The good news is that if you're a resident of New Hampshire, you won't owe any state tax on 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.

New Hampshire 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(0%)	$0
Net Lumpsum Payment	$96,492,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,981,881	-$1,803,626 -$0	$3,178,255
2	$5,231,124	-$1,895,846 -$0	$3,335,278
3	$5,492,614	-$1,992,598 -$0	$3,500,016
4	$5,767,344	-$2,094,248 -$0	$3,673,096
5	$6,055,645	-$2,200,919 -$0	$3,854,726
6	$6,358,510	-$2,312,979 -$0	$4,045,531
7	$6,676,270	-$2,430,550 -$0	$4,245,720
8	$7,010,249	-$2,554,123 -$0	$4,456,126
9	$7,360,778	-$2,683,818 -$0	$4,676,960
10	$7,728,850	-$2,820,005 -$0	$4,908,845
11	$8,115,127	-$2,962,927 -$0	$5,152,200
12	$8,520,933	-$3,113,076 -$0	$5,407,857
13	$8,946,930	-$3,270,694 -$0	$5,676,236
14	$9,394,442	-$3,436,274 -$0	$5,958,168
15	$9,864,131	-$3,610,059 -$0	$6,254,072
16	$10,357,321	-$3,792,539 -$0	$6,564,782
17	$10,875,005	-$3,984,082 -$0	$6,890,923
18	$11,418,838	-$4,185,300 -$0	$7,233,538
19	$11,989,813	-$4,396,561 -$0	$7,593,252
20	$12,589,254	-$4,618,354 -$0	$7,970,900
21	$13,218,816	-$4,851,292 -$0	$8,367,524
22	$13,879,823	-$5,095,865 -$0	$8,783,958
23	$14,573,599	-$5,352,562 -$0	$9,221,037
24	$15,302,461	-$5,622,241 -$0	$9,680,220
25	$16,067,402	-$5,905,269 -$0	$10,162,133
26	$16,871,070	-$6,202,626 -$0	$10,668,444
27	$17,714,458	-$6,514,680 -$0	$11,199,778
28	$18,600,214	-$6,842,410 -$0	$11,757,804
29	$19,530,324	-$7,186,550 -$0	$12,343,774
30	$20,506,774	-$7,547,837 -$0	$12,958,937