West Virginia Lottery

WVLottery 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 West Virginia, your state will take 6.5% 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.

West Virginia 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(6.5%)	$13,624,000
Net Lumpsum Payment	$118,463,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,818,103	-$2,483,028 -$443,177	$3,891,898
2	$7,159,212	-$2,609,239 -$465,349	$4,084,624
3	$7,517,082	-$2,741,651 -$488,610	$4,286,821
4	$7,893,072	-$2,880,767 -$513,050	$4,499,255
5	$8,287,635	-$3,026,755 -$538,696	$4,722,184
6	$8,702,130	-$3,180,118 -$565,638	$4,956,374
7	$9,137,010	-$3,341,024 -$593,906	$5,202,080
8	$9,594,087	-$3,510,143 -$623,616	$5,460,328
9	$10,073,814	-$3,687,642 -$654,798	$5,731,374
10	$10,577,550	-$3,874,024 -$687,541	$6,015,985
11	$11,106,201	-$4,069,625 -$721,903	$6,314,673
12	$11,661,579	-$4,275,115 -$758,003	$6,628,461
13	$12,244,590	-$4,490,829 -$795,898	$6,957,863
14	$12,857,046	-$4,717,437 -$835,708	$7,303,901
15	$13,499,853	-$4,955,276 -$877,490	$7,667,087
16	$14,174,823	-$5,205,015 -$921,363	$8,048,445
17	$14,883,315	-$5,467,157 -$967,415	$8,448,743
18	$15,627,594	-$5,742,540 -$1,015,794	$8,869,260
19	$16,409,019	-$6,031,667 -$1,066,586	$9,310,766
20	$17,229,402	-$6,335,209 -$1,119,911	$9,774,282
21	$18,091,008	-$6,654,003 -$1,175,916	$10,261,089
22	$18,995,649	-$6,988,721 -$1,234,717	$10,772,211
23	$19,945,137	-$7,340,031 -$1,296,434	$11,308,672
24	$20,942,643	-$7,709,108 -$1,361,272	$11,872,263
25	$21,989,526	-$8,096,455 -$1,429,319	$12,463,752
26	$23,089,410	-$8,503,412 -$1,500,812	$13,085,186
27	$24,243,654	-$8,930,482 -$1,575,838	$13,737,334
28	$25,455,882	-$9,379,007 -$1,654,632	$14,422,243
29	$26,728,812	-$9,849,991 -$1,737,373	$15,141,448
30	$28,065,162	-$10,344,440 -$1,824,236	$15,896,486