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Massachusetts(MA) MEGA Millions Prize Analysis for Tue Jul 16, 2024
Updated: Saturday, July 13th, 2024 12:21 AM The estimated jackpot for MEGA Millions on Tue Jul 16, 2024 is $226 million. The cash option is $106.9 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 $106.9 Million Cash Option - The federal tax that must be withheld is $26,725,000.00. Massachusetts state tax withholding amounts to $5,345,000.00. A single winner will receive $74,830,000.00 after tax deduction.
- Prize Analysis for $226 Million Annuity - The winner gets paid in 30 equal annual installments in the amount of $7,533,333.33 per yearl. The federal tax withholding amounts to $1,883,333.33 per year. Massachusetts state tax withholding amounts to $376,666.67 per year. A single winner will receive an annual payment in the amount of $5,273,333.33 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 16, 2024 |
Tue Jul 16, 2024
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Jackpot: $226 Million
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Cash: $106.9 Million
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Cash Option - $106.9 Million |
Gross Cash Payment | 25% Federal Withholding | State Withholding | Lump-Sum Net Payment | $106,900,000.00 | -$26,725,000.00 | -$5,345,000.00 | $74,830,000.00 |
Annuity - $226 Million in 30 Annual Payments |
Gross Annual Payment | 25% Federal Annual Withholding | State Annual Withholding | Net Annual Payment | $7,533,333.33 | -$1,883,333.33 | -$376,666.67 | $5,273,333.33 | Total Gross Payment | 25% Federal Total Withholding | State Total Withholding | Total Net Payment | $226,000,000.00 | -$56,500,000.00 | -$11,300,000.00 | $158,200,000.00 |
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More Prize Analysis for Massachusetts(MA) MEGA Millions
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![Massachusetts(MA) Mega Millions Winning Numbers for Fri Sep 6, 2024 are 06,23,41,59,63,25,2. The next draw date of Massachusetts(MA) Mega Millions is Tue Sep 10, 2024. Massachusetts(MA) Mega Millions Latest Drawing Results](/malottery_imgs/Massachusetts-Lottery-MEGA-Millions.png) Next Draw: Tue Sep 10, 2024 $800,000,000 Change: +$60,000,000
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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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