Massachusetts(MA) MEGA Millions Prize Analysis for Tue Dec 12, 2017

Massachusetts(MA) MEGA Millions Prize Analysis for Tue Dec 12, 2017
Updated: Saturday, December 9th, 2017 01:47 AM

The estimated jackpot for MEGA Millions on Tue Dec 12, 2017 is $191 million. The cash option is $120.4 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 $120.4 Million Cash Option - The federal tax that must be withheld is $30,100,000.00. Massachusetts state tax withholding amounts to $6,020,000.00. A single winner will receive $84,280,000.00 after tax deduction.
  • Prize Analysis for $191 Million Annuity - The winner gets paid in 30 equal annual installments in the amount of $6,366,666.67 per yearl. The federal tax withholding amounts to $1,591,666.67 per year. Massachusetts state tax withholding amounts to $318,333.33 per year. A single winner will receive an annual payment in the amount of $4,456,666.67 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 Tue Dec 12, 2017
Tue Dec 12, 2017  Jackpot: $191 Million  Cash: $120.4 Million

Cash Option - $120.4 Million
Gross Cash Payment25% Federal Withholding State WithholdingLump-Sum Net Payment
$120,400,000.00-$30,100,000.00-$6,020,000.00$84,280,000.00

Annuity - $191 Million in 30 Annual Payments
Gross Annual Payment25% Federal
Annual Withholding
State
Annual Withholding
Net Annual Payment
$6,366,666.67-$1,591,666.67-$318,333.33$4,456,666.67
Total Gross Payment25% Federal
Total Withholding
State
Total Withholding
Total Net Payment
$191,000,000.00-$47,750,000.00-$9,550,000.00$133,700,000.00


Past Prize Analysis for MEGA-Millions

More Prize Analysis for Massachusetts(MA) MEGA Millions

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Massachusetts(MA) MEGA Millions Latest Drawing Results
Next Draw: Tue Dec 12, 2017
$191.00 Million 
Change: +$15.00 Million








 
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