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Massachusetts(MA) MEGA Millions Prize Analysis for Tue Jul 11, 2023
Updated: Tuesday, July 11th, 2023 11:48 AM The estimated jackpot for MEGA Millions on Tue Jul 11, 2023 is $500 million. The cash option is $251 million. The MEGA Millions prize analysis tells you how much you would get after tax withholdings. As legally required by the state of Massachusetts, taxes are withheld on lottery winnings of $600.00 or more. For prizes over $5,000.00, US citizens and resident aliens with a social security number are subject to a 25% deduction to their prizes, which represents federal taxes. The Massachusetts state tax rate for lottery winning is 5%. - Prize Analysis for $251 Million Cash Option - The federal tax that must be withheld is $62,750,000.00. Massachusetts state tax withholding amounts to $12,550,000.00. A single winner will receive $175,700,000.00 after tax deduction.
- Prize Analysis for $500 Million Annuity - The winner gets paid in 30 equal annual installments in the amount of $16,666,666.67 per yearl. The federal tax withholding amounts to $4,166,666.67 per year. Massachusetts state tax withholding amounts to $833,333.33 per year. A single winner will receive an annual payment in the amount of $11,666,666.67 after tax deduction.
For detailed information on Massachusetts MEGA Millions Lottery Winning Taxes and Prizes Analysis, see the data listed below.
| Massachusetts(MA) MEGA Millions Prize Analysis for Tue Jul 11, 2023 |
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Tue Jul 11, 2023
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Jackpot: $500 Million
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Cash: $251 Million
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| Cash Option - $251 Million |
| Gross Cash Payment | 25% Federal Withholding | State Withholding | Lump-Sum Net Payment | | $251,000,000.00 | -$62,750,000.00 | -$12,550,000.00 | $175,700,000.00 |
| Annuity - $500 Million in 30 Annual Payments |
| Gross Annual Payment | 25% Federal
Annual Withholding | State
Annual Withholding | Net Annual Payment | | $16,666,666.67 | -$4,166,666.67 | -$833,333.33 | $11,666,666.67 | | Total Gross Payment | 25% Federal
Total Withholding | State
Total Withholding | Total Net Payment | | $500,000,000.00 | -$125,000,000.00 | -$25,000,000.00 | $350,000,000.00 |
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More Prize Analysis for Massachusetts(MA) MEGA Millions
| Massachusetts MEGA Millions |
SUN MON TUE WED THU FRI SAT |
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Next Draw: Fri Dec 6, 2024
$579,000,000
Change: +$38,000,000
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MALOTTERYX.COM is not associated with the official Massachusetts State Lottery. The information contained in this website is provided for informational purposes only. Every effort has been made to ensure that the winning numbers and other information posted on this website are accurate. No valid claim may be based on the winning numbers or other information contained on this website. MALOTTERYX.COM makes no warranties, guarantees or representations, of any kind, express or implied, as to the content, accuracy, completeness, reliability or timeliness of the information contained in this website or in the sites of any links provided herein. The information should always be verified by contacting the Official Lottery before it is used in any way. In the event of a discrepancy between the numbers posted on this website and the official winning numbers, the official winning numbers shall control.
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