Montana Lottery

MTLottery 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 Montana, your state will take 6.75% 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.

Montana 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(6.75%)	$1,613,250
Net Lumpsum Payment	$13,483,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$707,397	-$222,067 -$47,749	$437,581
2	$742,788	-$235,162 -$50,138	$457,488
3	$779,918	-$248,900 -$52,644	$478,374
4	$818,928	-$263,334 -$55,278	$500,316
5	$859,865	-$278,480 -$58,041	$523,344
6	$902,870	-$294,392 -$60,944	$547,534
7	$947,990	-$311,087 -$63,989	$572,914
8	$995,413	-$328,633 -$67,190	$599,590
9	$1,045,186	-$347,049 -$70,550	$627,587
10	$1,097,450	-$366,387 -$74,078	$656,985
11	$1,152,299	-$386,681 -$77,780	$687,838
12	$1,209,921	-$408,001 -$81,670	$720,250
13	$1,270,410	-$430,382 -$85,753	$754,275
14	$1,333,954	-$453,893 -$90,042	$790,019
15	$1,400,647	-$478,570 -$94,544	$827,533
16	$1,470,677	-$504,481 -$99,271	$866,925
17	$1,544,185	-$531,679 -$104,232	$908,274
18	$1,621,406	-$560,251 -$109,445	$951,710
19	$1,702,481	-$590,248 -$114,917	$997,316
20	$1,787,598	-$621,742 -$120,663	$1,045,193
21	$1,876,992	-$654,817 -$126,697	$1,095,478
22	$1,970,851	-$689,545 -$133,032	$1,148,274
23	$2,069,363	-$725,995 -$139,682	$1,203,686
24	$2,172,857	-$764,287 -$146,668	$1,261,902
25	$2,281,474	-$804,476 -$153,999	$1,322,999
26	$2,395,590	-$846,699 -$161,702	$1,387,189
27	$2,515,346	-$891,008 -$169,786	$1,454,552
28	$2,641,118	-$937,544 -$178,275	$1,525,299
29	$2,773,188	-$986,410 -$187,190	$1,599,588
30	$2,911,838	-$1,037,710 -$196,549	$1,677,579