Washington DC Lottery

DCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Nov 12, 2024 is estimated to be $361 Million, with a cash option of 169.2 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 Nov 12, 2024

Draw Date	Jackpot	Cash Option
Tue Nov 12, 2024	$361,000,000	$169,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$169,200,000
Federal Tax(24%)	$40,608,000
Additional Federal Tax	$21,956,330
State Tax(10.75%)	$18,189,000
Net Lumpsum Payment	$88,446,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,433,411	-$1,970,692 -$584,092	$2,878,627
2	$5,705,244	-$2,071,271 -$613,314	$3,020,659
3	$5,990,434	-$2,176,791 -$643,972	$3,169,671
4	$6,290,064	-$2,287,654 -$676,182	$3,326,228
5	$6,604,495	-$2,403,994 -$709,983	$3,490,518
6	$6,934,810	-$2,526,210 -$745,492	$3,663,108
7	$7,281,370	-$2,654,437 -$782,747	$3,844,186
8	$7,645,619	-$2,789,209 -$821,904	$4,034,506
9	$8,027,918	-$2,930,660 -$863,001	$4,234,257
10	$8,429,350	-$3,079,190 -$906,155	$4,444,005
11	$8,850,637	-$3,235,066 -$951,443	$4,664,128
12	$9,293,223	-$3,398,823 -$999,021	$4,895,379
13	$9,757,830	-$3,570,727 -$1,048,967	$5,138,136
14	$10,245,902	-$3,751,314 -$1,101,434	$5,393,154
15	$10,758,161	-$3,940,850 -$1,156,502	$5,660,809
16	$11,296,051	-$4,139,869 -$1,214,325	$5,941,857
17	$11,860,655	-$4,348,773 -$1,275,020	$6,236,862
18	$12,453,778	-$4,568,228 -$1,338,781	$6,546,769
19	$13,076,503	-$4,798,636 -$1,405,724	$6,872,143
20	$13,730,274	-$5,040,532 -$1,476,004	$7,213,738
21	$14,416,896	-$5,294,582 -$1,549,816	$7,572,498
22	$15,137,813	-$5,561,321 -$1,627,315	$7,949,177
23	$15,894,469	-$5,841,284 -$1,708,655	$8,344,530
24	$16,689,391	-$6,135,405 -$1,794,110	$8,759,876
25	$17,523,662	-$6,444,085 -$1,883,794	$9,195,783
26	$18,400,170	-$6,768,393 -$1,978,018	$9,653,759
27	$19,319,998	-$7,108,730 -$2,076,900	$10,134,368
28	$20,286,034	-$7,466,163 -$2,180,749	$10,639,122
29	$21,300,444	-$7,841,495 -$2,289,798	$11,169,151
30	$22,365,394	-$8,235,526 -$2,404,280	$11,725,588