Massachusetts(MA) MEGA Millions Prize Analysis for Fri Nov 01, 2024

The estimated jackpot for MEGA Millions on Fri Nov 01, 2024 is $281 million. The cash option is $129.8 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 $129.8 Million Cash Option - The federal tax that must be withheld is $32,450,000.00. Massachusetts state tax withholding amounts to $6,490,000.00. A single winner will receive $90,860,000.00 after tax deduction.
• Prize Analysis for $281 Million Annuity - The winner gets paid in 30 equal annual installments in the amount of $9,366,666.67 per yearl. The federal tax withholding amounts to $2,341,666.67 per year. Massachusetts state tax withholding amounts to $468,333.33 per year. A single winner will receive an annual payment in the amount of $6,556,666.67 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 Fri Nov 01, 2024
Fri Nov 01, 2024	Jackpot: $281 Million	Cash: $129.8 Million

Cash Option - $129.8 Million
Gross Cash Payment	25% Federal Withholding	State Withholding	Lump-Sum Net Payment
$129,800,000.00	-$32,450,000.00	-$6,490,000.00	$90,860,000.00

Annuity - $281 Million in 30 Annual Payments
Gross Annual Payment	25% Federal Annual Withholding	State Annual Withholding	Net Annual Payment
$9,366,666.67	-$2,341,666.67	-$468,333.33	$6,556,666.67
Total Gross Payment	25% Federal Total Withholding	State Total Withholding	Total Net Payment
$281,000,000.00	-$70,250,000.00	-$14,050,000.00	$196,700,000.00

Past Prize Analysis for MEGA-Millions

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• MEGA Millions Jackpot Analysis for Tuesday, October 15th
  
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• MEGA Millions Jackpot Analysis for Tuesday, October 8th
  
• MEGA Millions Jackpot Analysis for Friday, October 4th
  
• MEGA Millions Jackpot Analysis for Tuesday, October 1st
  

More Prize Analysis for Massachusetts(MA) MEGA Millions

Massachusetts MEGA Millions	SUN MON TUE WED THU FRI SAT
16 22 26 36 56 MB: 01 Tue Oct 29, 2024 Last 10 | Calendar | Search Intelli-Combos | Power Picks | Frequency Chart | Overdue Chart Win Checker | Lotto Wheels | Prize Analysis News & Payout | Skip and Hit Analysis	Next Draw: Fri Nov 1, 2024 $281,000,000  Change: +$31,000,000