North Carolina Lottery

NCLottery 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 North Carolina, your state will take 4.75% 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.

North Carolina 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(4.75%)	$1,619,750
Net Lumpsum Payment	$19,902,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,158,927	-$389,133 -$55,049	$714,745
2	$1,216,908	-$410,586 -$57,803	$748,519
3	$1,277,738	-$433,093 -$60,693	$783,952
4	$1,341,648	-$456,740 -$63,728	$821,180
5	$1,408,715	-$481,555 -$66,914	$860,246
6	$1,479,170	-$507,623 -$70,261	$901,286
7	$1,553,090	-$534,974 -$73,772	$944,344
8	$1,630,783	-$563,720 -$77,462	$989,601
9	$1,712,326	-$593,891 -$81,335	$1,037,100
10	$1,797,950	-$625,572 -$85,403	$1,086,975
11	$1,887,809	-$658,820 -$89,671	$1,139,318
12	$1,982,211	-$693,748 -$94,155	$1,194,308
13	$2,081,310	-$730,415 -$98,862	$1,252,033
14	$2,185,414	-$768,934 -$103,807	$1,312,673
15	$2,294,677	-$809,361 -$108,997	$1,376,319
16	$2,409,407	-$851,811 -$114,447	$1,443,149
17	$2,529,835	-$896,369 -$120,167	$1,513,299
18	$2,656,346	-$943,178 -$126,176	$1,586,992
19	$2,789,171	-$992,324 -$132,486	$1,664,361
20	$2,928,618	-$1,043,919 -$139,109	$1,745,590
21	$3,075,072	-$1,098,107 -$146,066	$1,830,899
22	$3,228,841	-$1,155,002 -$153,370	$1,920,469
23	$3,390,233	-$1,214,717 -$161,036	$2,014,480
24	$3,559,787	-$1,277,452 -$169,090	$2,113,245
25	$3,737,734	-$1,343,292 -$177,542	$2,216,900
26	$3,924,690	-$1,412,466 -$186,423	$2,325,801
27	$4,120,886	-$1,485,058 -$195,742	$2,440,086
28	$4,326,938	-$1,561,297 -$205,530	$2,560,111
29	$4,543,308	-$1,641,354 -$215,807	$2,686,147
30	$4,770,458	-$1,725,400 -$226,597	$2,818,461