Montana Lottery

MTLottery 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 Montana, your state will take 6.75% 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.

Montana 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(6.75%)	$28,984,500
Net Lumpsum Payment	$241,577,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$14,208,144	-$5,217,344 -$959,050	$8,031,750
2	$14,918,976	-$5,480,352 -$1,007,031	$8,431,593
3	$15,664,736	-$5,756,283 -$1,057,370	$8,851,083
4	$16,448,256	-$6,046,185 -$1,110,257	$9,291,814
5	$17,270,480	-$6,350,408 -$1,165,757	$9,754,315
6	$18,134,240	-$6,669,999 -$1,224,061	$10,240,180
7	$19,040,480	-$7,005,308 -$1,285,232	$10,749,940
8	$19,992,976	-$7,357,732 -$1,349,526	$11,285,718
9	$20,992,672	-$7,727,619 -$1,417,005	$11,848,048
10	$22,042,400	-$8,116,018 -$1,487,862	$12,438,520
11	$23,144,048	-$8,523,628 -$1,562,223	$13,058,197
12	$24,301,392	-$8,951,845 -$1,640,344	$13,709,203
13	$25,516,320	-$9,401,369 -$1,722,352	$14,392,599
14	$26,792,608	-$9,873,595 -$1,808,501	$15,110,512
15	$28,132,144	-$10,369,224 -$1,898,920	$15,864,000
16	$29,538,704	-$10,889,651 -$1,993,863	$16,655,190
17	$31,015,120	-$11,435,925 -$2,093,521	$17,485,674
18	$32,566,112	-$12,009,792 -$2,198,213	$18,358,107
19	$34,194,512	-$12,612,300 -$2,308,130	$19,274,082
20	$35,904,096	-$13,244,846 -$2,423,526	$20,235,724
21	$37,699,584	-$13,909,176 -$2,544,722	$21,245,686
22	$39,584,752	-$14,606,689 -$2,671,971	$22,306,092
23	$41,563,376	-$15,338,780 -$2,805,528	$23,419,068
24	$43,642,064	-$16,107,894 -$2,945,839	$24,588,331
25	$45,823,648	-$16,915,080 -$3,093,096	$25,815,472
26	$48,115,680	-$17,763,132 -$3,247,808	$27,104,740
27	$50,520,992	-$18,653,097 -$3,410,167	$28,457,728
28	$53,047,136	-$19,587,771 -$3,580,682	$29,878,683
29	$55,699,776	-$20,569,248 -$3,759,735	$31,370,793
30	$58,484,576	-$21,599,624 -$3,947,709	$32,937,243