Nebraska Lottery

NELottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 30, 2024 is estimated to be $257 Million, with a cash option of 115.6 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 Nebraska, your state will take 5% 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.

Nebraska MEGA Millions Jackpot/Cash Option for Tue Apr 30, 2024

Draw Date	Jackpot	Cash Option
Tue Apr 30, 2024	$257,000,000	$115,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$115,600,000
Federal Tax(24%)	$27,744,000
Additional Federal Tax	$14,988,330
State Tax(5%)	$5,780,000
Net Lumpsum Payment	$67,087,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,868,107	-$1,391,530 -$193,405	$2,283,172
2	$4,061,628	-$1,463,133 -$203,081	$2,395,414
3	$4,264,658	-$1,538,254 -$213,233	$2,513,171
4	$4,477,968	-$1,617,179 -$223,898	$2,636,891
5	$4,701,815	-$1,700,002 -$235,091	$2,766,722
6	$4,936,970	-$1,787,009 -$246,849	$2,903,112
7	$5,183,690	-$1,878,296 -$259,185	$3,046,209
8	$5,443,003	-$1,974,241 -$272,150	$3,196,612
9	$5,715,166	-$2,074,942 -$285,758	$3,354,466
10	$6,000,950	-$2,180,682 -$300,048	$3,520,220
11	$6,300,869	-$2,291,652 -$315,043	$3,694,174
12	$6,615,951	-$2,408,232 -$330,798	$3,876,921
13	$6,946,710	-$2,530,613 -$347,336	$4,068,761
14	$7,294,174	-$2,659,175 -$364,709	$4,270,290
15	$7,658,857	-$2,794,107 -$382,943	$4,481,807
16	$8,041,787	-$2,935,792 -$402,089	$4,703,906
17	$8,443,735	-$3,084,512 -$422,187	$4,937,036
18	$8,865,986	-$3,240,745 -$443,299	$5,181,942
19	$9,309,311	-$3,404,775 -$465,466	$5,439,070
20	$9,774,738	-$3,576,983 -$488,737	$5,709,018
21	$10,263,552	-$3,757,845 -$513,178	$5,992,529
22	$10,776,781	-$3,947,739 -$538,839	$6,290,203
23	$11,315,453	-$4,147,048 -$565,773	$6,602,632
24	$11,881,367	-$4,356,436 -$594,068	$6,930,863
25	$12,475,294	-$4,576,189 -$623,765	$7,275,340
26	$13,099,290	-$4,807,068 -$654,965	$7,637,257
27	$13,754,126	-$5,049,357 -$687,706	$8,017,063
28	$14,441,858	-$5,303,818 -$722,093	$8,415,947
29	$15,164,028	-$5,571,021 -$758,201	$8,834,806
30	$15,922,178	-$5,851,536 -$796,109	$9,274,533