Ohio Lottery

OHLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Nov 22, 2024 is estimated to be $453 Million, with a cash option of 209.6 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 Ohio, your state will take 3.99% 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.

Ohio MEGA Millions Jackpot/Cash Option for Fri Nov 22, 2024

Draw Date	Jackpot	Cash Option
Fri Nov 22, 2024	$453,000,000	$209,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$209,600,000
Federal Tax(24%)	$50,304,000
Additional Federal Tax	$27,208,330
State Tax(3.99%)	$8,363,040
Net Lumpsum Payment	$123,724,630

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,818,103	-$2,483,028 -$272,042	$4,063,033
2	$7,159,212	-$2,609,239 -$285,653	$4,264,320
3	$7,517,082	-$2,741,651 -$299,932	$4,475,499
4	$7,893,072	-$2,880,767 -$314,934	$4,697,371
5	$8,287,635	-$3,026,755 -$330,677	$4,930,203
6	$8,702,130	-$3,180,118 -$347,215	$5,174,797
7	$9,137,010	-$3,341,024 -$364,567	$5,431,419
8	$9,594,087	-$3,510,143 -$382,804	$5,701,140
9	$10,073,814	-$3,687,642 -$401,945	$5,984,227
10	$10,577,550	-$3,874,024 -$422,044	$6,281,482
11	$11,106,201	-$4,069,625 -$443,137	$6,593,439
12	$11,661,579	-$4,275,115 -$465,297	$6,921,167
13	$12,244,590	-$4,490,829 -$488,559	$7,265,202
14	$12,857,046	-$4,717,437 -$512,996	$7,626,613
15	$13,499,853	-$4,955,276 -$538,644	$8,005,933
16	$14,174,823	-$5,205,015 -$565,575	$8,404,233
17	$14,883,315	-$5,467,157 -$593,844	$8,822,314
18	$15,627,594	-$5,742,540 -$623,541	$9,261,513
19	$16,409,019	-$6,031,667 -$654,720	$9,722,632
20	$17,229,402	-$6,335,209 -$687,453	$10,206,740
21	$18,091,008	-$6,654,003 -$721,831	$10,715,174
22	$18,995,649	-$6,988,721 -$757,926	$11,249,002
23	$19,945,137	-$7,340,031 -$795,811	$11,809,295
24	$20,942,643	-$7,709,108 -$835,611	$12,397,924
25	$21,989,526	-$8,096,455 -$877,382	$13,015,689
26	$23,089,410	-$8,503,412 -$921,267	$13,664,731
27	$24,243,654	-$8,930,482 -$967,322	$14,345,850
28	$25,455,882	-$9,379,007 -$1,015,690	$15,061,185
29	$26,728,812	-$9,849,991 -$1,066,480	$15,812,341
30	$28,065,162	-$10,344,440 -$1,119,800	$16,600,922