California(CA) MEGA Millions Prize Analysis for Tue Mar 19, 2024

California(CA) MEGA Millions Prize Analysis for Tue Mar 19, 2024
Updated: Saturday, March 16th, 2024 12:30 AM

The estimated jackpot for MEGA Millions on Tue Mar 19, 2024 is $875 million. The cash option is $413.5 million. The MEGA Millions prize analysis tells you how much you would get after tax withholdings.

As legally required by the state of California, 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. Luckily, lottery prizes are exempt from California state and local personal income taxes. For more information on taxes for lottery winnings in the state of California, click here.

  • For the Cash Option in the amount of $413.5 million, the federal tax that must be withheld is $103,375,000.00. There is no state tax on lottery prizes. After federal taxes are paid, the winner gets a net lump-sum payment of $310,125,000.00.
  • For the $875 million annuity, the winner gets paid in 30 equal annual installments amounting to $29,166,666.67 yearly. The federal tax amounts to $7,291,666.67 yearly. There is no state tax deduction. The winner will receive, after paying federal taxes, $21,875,000.00 yearly.
For detailed information on MEGA Millions Lottery Winning Taxes and Prizes Analysis, see the data listed below.

California(CA) MEGA Millions Prize Analysis for Tue Mar 19, 2024
Tue Mar 19, 2024  Jackpot: $875 Million  Cash: $413.5 Million

Cash Option - $413.5 Million
Gross Cash Payment25% Federal Withholding0% State WithholdingLump-Sum Net Payment
$413,500,000.00-$103,375,000.00-$0.00$310,125,000.00

Annuity - $875 Million in 30 Annual Payments
Gross Annual Payment25% Federal
Annual Withholding
0% State
Annual Withholding
Net Annual Payment
$29,166,666.67-$7,291,666.67-$0.00$21,875,000.00
Total Gross Payment25% Federal
Total Withholding
0% State
Total Withholding
Total Net Payment
$875,000,000.00-$218,750,000.00-$0.00$656,250,000.00


Past Prize Analysis for MEGA-Millions

More Prize Analysis for California(CA) MEGA Millions

 California Mega Millions SUN MON TUE WED THU FRI SAT
13
25
50
51
66
MB:
06
Fri Mar 15, 2024 Last 10 | Calendar | Search
Intelli-Combos | Power Picks | Frequency Chart | Overdue Chart
Win Checker | Lotto Wheels | Prize Analysis
News & Payout | Skip and Hit Analysis
California(CA) Mega Millions Latest Drawing Results
Next Draw: Tue Mar 19, 2024
$875,000,000 
Change: +$60,000,000







 
Home |  About Us |  Privacy Policy |  Site Map |  Terms of Use |  Contact Us
CALOTTERYX.COM is not associated with the official California State Lottery. The information contained in this website is provided for informational purposes only. Every effort has been made to ensure that the winning numbers and other information posted on this website are accurate. No valid claim may be based on the winning numbers or other information contained on this website. CALOTTERYX.COM makes no warranties, guarantees or representations, of any kind, express or implied, as to the content, accuracy, completeness, reliability or timeliness of the information contained in this website or in the sites of any links provided herein. The information should always be verified by contacting the Official Lottery before it is used in any way. In the event of a discrepancy between the numbers posted on this website and the official winning numbers, the official winning numbers shall control.