Washington DC Lottery

DCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Sep 20, 2024 is estimated to be $47 Million, with a cash option of 23.9 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 Washington DC, your state will take 10.75% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Washington DC MEGA Millions Jackpot/Cash Option for Fri Sep 20, 2024

Draw Date	Jackpot	Cash Option
Fri Sep 20, 2024	$47,000,000	$23,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$23,900,000
Federal Tax(24%)	$5,736,000
Additional Federal Tax	$3,067,330
State Tax(10.75%)	$2,569,250
Net Lumpsum Payment	$12,527,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$707,397	-$222,067 -$76,045	$409,285
2	$742,788	-$235,162 -$79,850	$427,776
3	$779,918	-$248,900 -$83,841	$447,177
4	$818,928	-$263,334 -$88,035	$467,559
5	$859,865	-$278,480 -$92,435	$488,950
6	$902,870	-$294,392 -$97,059	$511,419
7	$947,990	-$311,087 -$101,909	$534,994
8	$995,413	-$328,633 -$107,007	$559,773
9	$1,045,186	-$347,049 -$112,357	$585,780
10	$1,097,450	-$366,387 -$117,976	$613,087
11	$1,152,299	-$386,681 -$123,872	$641,746
12	$1,209,921	-$408,001 -$130,067	$671,853
13	$1,270,410	-$430,382 -$136,569	$703,459
14	$1,333,954	-$453,893 -$143,400	$736,661
15	$1,400,647	-$478,570 -$150,570	$771,507
16	$1,470,677	-$504,481 -$158,098	$808,098
17	$1,544,185	-$531,679 -$166,000	$846,506
18	$1,621,406	-$560,251 -$174,301	$886,854
19	$1,702,481	-$590,248 -$183,017	$929,216
20	$1,787,598	-$621,742 -$192,167	$973,689
21	$1,876,992	-$654,817 -$201,777	$1,020,398
22	$1,970,851	-$689,545 -$211,866	$1,069,440
23	$2,069,363	-$725,995 -$222,457	$1,120,911
24	$2,172,857	-$764,287 -$233,582	$1,174,988
25	$2,281,474	-$804,476 -$245,258	$1,231,740
26	$2,395,590	-$846,699 -$257,526	$1,291,365
27	$2,515,346	-$891,008 -$270,400	$1,353,938
28	$2,641,118	-$937,544 -$283,920	$1,419,654
29	$2,773,188	-$986,410 -$298,118	$1,488,660
30	$2,911,838	-$1,037,710 -$313,023	$1,561,105