Massachusetts(MA) MEGA Millions Prize Analysis for Fri Dec 13, 2019

Massachusetts(MA) MEGA Millions Prize Analysis for Fri Dec 13, 2019
Updated: Wednesday, December 11th, 2019 01:06 AM

The estimated jackpot for MEGA Millions on Fri Dec 13, 2019 is $340 million. The cash option is $230.8 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 $230.8 Million Cash Option - The federal tax that must be withheld is $57,700,000.00. Massachusetts state tax withholding amounts to $11,540,000.00. A single winner will receive $161,560,000.00 after tax deduction.
  • Prize Analysis for $340 Million Annuity - The winner gets paid in 30 equal annual installments in the amount of $11,333,333.33 per yearl. The federal tax withholding amounts to $2,833,333.33 per year. Massachusetts state tax withholding amounts to $566,666.67 per year. A single winner will receive an annual payment in the amount of $7,933,333.33 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 Fri Dec 13, 2019
Fri Dec 13, 2019  Jackpot: $340 Million  Cash: $230.8 Million

Cash Option - $230.8 Million
Gross Cash Payment25% Federal Withholding State WithholdingLump-Sum Net Payment
$230,800,000.00-$57,700,000.00-$11,540,000.00$161,560,000.00

Annuity - $340 Million in 30 Annual Payments
Gross Annual Payment25% Federal
Annual Withholding
State
Annual Withholding
Net Annual Payment
$11,333,333.33-$2,833,333.33-$566,666.67$7,933,333.33
Total Gross Payment25% Federal
Total Withholding
State
Total Withholding
Total Net Payment
$340,000,000.00-$85,000,000.00-$17,000,000.00$238,000,000.00


Past Prize Analysis for MEGA-Millions

More Prize Analysis for Massachusetts(MA) MEGA Millions

 Massachusetts MEGA Millions SUN MON TUE WED THU FRI SAT
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Massachusetts(MA) MEGA Millions Latest Drawing Results
Next Draw: Fri Dec 13, 2019
$340.00 Million 
Change: +$26.00 Million








 
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