No one hit last night’s Mega Million jackpot. This will be the $500M lump sum payout by state if you hit Friday’s $1.15B jackpot:
- No State Tax States (CA, DE, FL, NH, SD, TN, TX, WA, WY):
- After Federal Withholding (24%): ~$380 million
- States with State Tax:
- New York (8.82% state tax):
- After Federal & State Taxes: ~$262 million
- New Jersey (8% state tax):
- After Federal & State Taxes: ~$264 million
- Ohio (3.5% state tax):
- After Federal & State Taxes: ~$289 million
- Georgia (5.49% state tax):
- After Federal & State Taxes: ~$281 million
- Other States with State Tax (e.g., IL, IN, MI at around 5% state tax):
- Approximate After Federal & State Taxes: Slightly less than no-tax states but more than NY or NJ, around $275-$285 million.