Washington DC Lottery

DCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jan 21, 2025 is estimated to be $20 Million, with a cash option of 8.9 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 Jan 21, 2025

Draw Date	Jackpot	Cash Option
Tue Jan 21, 2025	$20,000,000	$8,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$8,900,000
Federal Tax(24%)	$2,136,000
Additional Federal Tax	$1,117,330
State Tax(10.75%)	$956,750
Net Lumpsum Payment	$4,689,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$301,020	-$71,708 -$32,360	$196,952
2	$316,080	-$77,280 -$33,979	$204,821
3	$331,880	-$83,126 -$35,677	$213,077
4	$348,480	-$89,268 -$37,462	$221,750
5	$365,900	-$95,713 -$39,334	$230,853
6	$384,200	-$102,484 -$41,302	$240,414
7	$403,400	-$109,588 -$43,366	$250,446
8	$423,580	-$117,055 -$45,535	$260,990
9	$444,760	-$124,892 -$47,812	$272,056
10	$467,000	-$133,120 -$50,203	$283,677
11	$490,340	-$141,756 -$52,712	$295,872
12	$514,860	-$150,829 -$55,347	$308,684
13	$540,600	-$160,352 -$58,115	$322,133
14	$567,640	-$170,357 -$61,021	$336,262
15	$596,020	-$180,858 -$64,072	$351,090
16	$625,820	-$191,884 -$67,276	$366,660
17	$657,100	-$203,457 -$70,638	$383,005
18	$689,960	-$215,616 -$74,171	$400,173
19	$724,460	-$228,381 -$77,879	$418,200
20	$760,680	-$241,782 -$81,773	$437,125
21	$798,720	-$255,857 -$85,862	$457,001
22	$838,660	-$270,635 -$90,156	$477,869
23	$880,580	-$286,145 -$94,662	$499,773
24	$924,620	-$302,440 -$99,397	$522,783
25	$970,840	-$319,541 -$104,365	$546,934
26	$1,019,400	-$337,508 -$109,586	$572,306
27	$1,070,360	-$356,364 -$115,064	$598,932
28	$1,123,880	-$376,166 -$120,817	$626,897
29	$1,180,080	-$396,960 -$126,859	$656,261
30	$1,239,080	-$418,790 -$133,201	$687,089