Washington DC Lottery

DCLottery 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 Washington DC, your state will take 10.75% 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.

Washington DC 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(10.75%)	$16,458,250
Net Lumpsum Payment	$80,034,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,981,881	-$1,803,626 -$535,552	$2,642,703
2	$5,231,124	-$1,895,846 -$562,346	$2,772,932
3	$5,492,614	-$1,992,598 -$590,456	$2,909,560
4	$5,767,344	-$2,094,248 -$619,989	$3,053,107
5	$6,055,645	-$2,200,919 -$650,982	$3,203,744
6	$6,358,510	-$2,312,979 -$683,540	$3,361,991
7	$6,676,270	-$2,430,550 -$717,699	$3,528,021
8	$7,010,249	-$2,554,123 -$753,602	$3,702,524
9	$7,360,778	-$2,683,818 -$791,284	$3,885,676
10	$7,728,850	-$2,820,005 -$830,851	$4,077,994
11	$8,115,127	-$2,962,927 -$872,376	$4,279,824
12	$8,520,933	-$3,113,076 -$916,000	$4,491,857
13	$8,946,930	-$3,270,694 -$961,795	$4,714,441
14	$9,394,442	-$3,436,274 -$1,009,903	$4,948,265
15	$9,864,131	-$3,610,059 -$1,060,394	$5,193,678
16	$10,357,321	-$3,792,539 -$1,113,412	$5,451,370
17	$10,875,005	-$3,984,082 -$1,169,063	$5,721,860
18	$11,418,838	-$4,185,300 -$1,227,525	$6,006,013
19	$11,989,813	-$4,396,561 -$1,288,905	$6,304,347
20	$12,589,254	-$4,618,354 -$1,353,345	$6,617,555
21	$13,218,816	-$4,851,292 -$1,421,023	$6,946,501
22	$13,879,823	-$5,095,865 -$1,492,081	$7,291,877
23	$14,573,599	-$5,352,562 -$1,566,662	$7,654,375
24	$15,302,461	-$5,622,241 -$1,645,015	$8,035,205
25	$16,067,402	-$5,905,269 -$1,727,246	$8,434,887
26	$16,871,070	-$6,202,626 -$1,813,640	$8,854,804
27	$17,714,458	-$6,514,680 -$1,904,304	$9,295,474
28	$18,600,214	-$6,842,410 -$1,999,523	$9,758,281
29	$19,530,324	-$7,186,550 -$2,099,510	$10,244,264
30	$20,506,774	-$7,547,837 -$2,204,478	$10,754,459