Washington DC Lottery

DCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Dec 24, 2024 is estimated to be $944 Million, with a cash option of 429.4 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 Washington DC, your state will take 10.75% of your lottery winnings.

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

Washington DC MEGA Millions Jackpot/Cash Option for Tue Dec 24, 2024

Draw Date	Jackpot	Cash Option
Tue Dec 24, 2024	$944,000,000	$429,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$429,400,000
Federal Tax(24%)	$103,056,000
Additional Federal Tax	$55,782,330
State Tax(10.75%)	$46,160,500
Net Lumpsum Payment	$224,401,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$14,208,144	-$5,217,344 -$1,527,375	$7,463,425
2	$14,918,976	-$5,480,352 -$1,603,790	$7,834,834
3	$15,664,736	-$5,756,283 -$1,683,959	$8,224,494
4	$16,448,256	-$6,046,185 -$1,768,188	$8,633,883
5	$17,270,480	-$6,350,408 -$1,856,577	$9,063,495
6	$18,134,240	-$6,669,999 -$1,949,431	$9,514,810
7	$19,040,480	-$7,005,308 -$2,046,852	$9,988,320
8	$19,992,976	-$7,357,732 -$2,149,245	$10,485,999
9	$20,992,672	-$7,727,619 -$2,256,712	$11,008,341
10	$22,042,400	-$8,116,018 -$2,369,558	$11,556,824
11	$23,144,048	-$8,523,628 -$2,487,985	$12,132,435
12	$24,301,392	-$8,951,845 -$2,612,400	$12,737,147
13	$25,516,320	-$9,401,369 -$2,743,004	$13,371,947
14	$26,792,608	-$9,873,595 -$2,880,205	$14,038,808
15	$28,132,144	-$10,369,224 -$3,024,205	$14,738,715
16	$29,538,704	-$10,889,651 -$3,175,411	$15,473,642
17	$31,015,120	-$11,435,925 -$3,334,125	$16,245,070
18	$32,566,112	-$12,009,792 -$3,500,857	$17,055,463
19	$34,194,512	-$12,612,300 -$3,675,910	$17,906,302
20	$35,904,096	-$13,244,846 -$3,859,690	$18,799,560
21	$37,699,584	-$13,909,176 -$4,052,705	$19,737,703
22	$39,584,752	-$14,606,689 -$4,255,361	$20,722,702
23	$41,563,376	-$15,338,780 -$4,468,063	$21,756,533
24	$43,642,064	-$16,107,894 -$4,691,522	$22,842,648
25	$45,823,648	-$16,915,080 -$4,926,042	$23,982,526
26	$48,115,680	-$17,763,132 -$5,172,436	$25,180,112
27	$50,520,992	-$18,653,097 -$5,431,007	$26,436,888
28	$53,047,136	-$19,587,771 -$5,702,567	$27,756,798
29	$55,699,776	-$20,569,248 -$5,987,726	$29,142,802
30	$58,484,576	-$21,599,624 -$6,287,092	$30,597,860