Massachusetts(MA) MEGA Millions Prize Analysis for Tue Oct 08, 2024

Massachusetts(MA) MEGA Millions Prize Analysis for Tue Oct 08, 2024
Updated: Saturday, October 5th, 2024 12:21 AM

The estimated jackpot for MEGA Millions on Tue Oct 08, 2024 is $129 million. The cash option is $62.3 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 $62.3 Million Cash Option - The federal tax that must be withheld is $15,575,000.00. Massachusetts state tax withholding amounts to $3,115,000.00. A single winner will receive $43,610,000.00 after tax deduction.
  • Prize Analysis for $129 Million Annuity - The winner gets paid in 30 equal annual installments in the amount of $4,300,000.00 per yearl. The federal tax withholding amounts to $1,075,000.00 per year. Massachusetts state tax withholding amounts to $215,000.00 per year. A single winner will receive an annual payment in the amount of $3,010,000.00 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 Oct 08, 2024
Tue Oct 08, 2024  Jackpot: $129 Million  Cash: $62.3 Million

Cash Option - $62.3 Million
Gross Cash Payment25% Federal Withholding State WithholdingLump-Sum Net Payment
$62,300,000.00-$15,575,000.00-$3,115,000.00$43,610,000.00

Annuity - $129 Million in 30 Annual Payments
Gross Annual Payment25% Federal
Annual Withholding
State
Annual Withholding
Net Annual Payment
$4,300,000.00-$1,075,000.00-$215,000.00$3,010,000.00
Total Gross Payment25% Federal
Total Withholding
State
Total Withholding
Total Net Payment
$129,000,000.00-$32,250,000.00-$6,450,000.00$90,300,000.00


Past Prize Analysis for MEGA-Millions

More Prize Analysis for Massachusetts(MA) MEGA Millions

 Massachusetts MEGA Millions SUN MON TUE WED THU FRI SAT
21
39
42
43
45
MB:
03
Fri Oct 4, 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
Massachusetts(MA) Mega Millions Latest Drawing Results
Next Draw: Tue Oct 8, 2024
$129,000,000 
Change: +$21,000,000







 
Home |  About Us |  Privacy Policy |  Site Map |  Terms of Use |  Contact Us
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.