Montana Lottery

MTLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 10, 2025 is estimated to be $77 Million, with a cash option of 34.1 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 Jan 10, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 10, 2025	$77,000,000	$34,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,100,000
Federal Tax(24%)	$8,184,000
Additional Federal Tax	$4,393,330
State Tax(6.75%)	$2,301,750
Net Lumpsum Payment	$19,220,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,158,927	-$389,133 -$78,228	$691,566
2	$1,216,908	-$410,586 -$82,141	$724,181
3	$1,277,738	-$433,093 -$86,247	$758,398
4	$1,341,648	-$456,740 -$90,561	$794,347
5	$1,408,715	-$481,555 -$95,088	$832,072
6	$1,479,170	-$507,623 -$99,844	$871,703
7	$1,553,090	-$534,974 -$104,834	$913,282
8	$1,630,783	-$563,720 -$110,078	$956,985
9	$1,712,326	-$593,891 -$115,582	$1,002,853
10	$1,797,950	-$625,572 -$121,362	$1,051,016
11	$1,887,809	-$658,820 -$127,427	$1,101,562
12	$1,982,211	-$693,748 -$133,799	$1,154,664
13	$2,081,310	-$730,415 -$140,488	$1,210,407
14	$2,185,414	-$768,934 -$147,515	$1,268,965
15	$2,294,677	-$809,361 -$154,891	$1,330,425
16	$2,409,407	-$851,811 -$162,635	$1,394,961
17	$2,529,835	-$896,369 -$170,764	$1,462,702
18	$2,656,346	-$943,178 -$179,303	$1,533,865
19	$2,789,171	-$992,324 -$188,269	$1,608,578
20	$2,928,618	-$1,043,919 -$197,682	$1,687,017
21	$3,075,072	-$1,098,107 -$207,567	$1,769,398
22	$3,228,841	-$1,155,002 -$217,947	$1,855,892
23	$3,390,233	-$1,214,717 -$228,841	$1,946,675
24	$3,559,787	-$1,277,452 -$240,286	$2,042,049
25	$3,737,734	-$1,343,292 -$252,297	$2,142,145
26	$3,924,690	-$1,412,466 -$264,917	$2,247,307
27	$4,120,886	-$1,485,058 -$278,160	$2,357,668
28	$4,326,938	-$1,561,297 -$292,068	$2,473,573
29	$4,543,308	-$1,641,354 -$306,673	$2,595,281
30	$4,770,458	-$1,725,400 -$322,006	$2,723,052