Texas(TX) MEGA Millions Prize Analysis for Tue Feb 03, 2015

The estimated jackpot for MEGA Millions on Tue Feb 03, 2015 is $40 million. The cash option is $27.3 million. The MEGA Millions prize analysis tells you how much you would get after tax withholdings.

As legally required by the state of Texas, 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 Texas state and local personal income taxes. For more information on taxes for lottery winnings in the state of Texas, click here.

• For the Cash Option in the amount of $27.3 million, the federal tax that must be withheld is $6,825,000.00. There is no state tax on lottery prizes. After federal taxes are paid, the winner gets a net lump-sum payment of $20,475,000.00.
• For the $40 million annuity, the winner gets paid in 30 equal annual installments amounting to $1,333,333.33 yearly. The federal tax amounts to $333,333.33 yearly. There is no state tax deduction. The winner will receive, after paying federal taxes, $1,000,000.00 yearly.

For detailed information on MEGA Millions Lottery Winning Taxes and Prizes Analysis, see the data listed below.

Texas(TX) MEGA Millions Prize Analysis for Tue Feb 03, 2015
Tue Feb 03, 2015	Jackpot: $40 Million	Cash: $27.3 Million

Cash Option - $27.3 Million
Gross Cash Payment	25% Federal Withholding	0% State Withholding	Lump-Sum Net Payment
$27,300,000.00	-$6,825,000.00	-$0.00	$20,475,000.00

Annuity - $40 Million in 30 Annual Payments
Gross Annual Payment	25% Federal Annual Withholding	0% State Annual Withholding	Net Annual Payment
$1,333,333.33	-$333,333.33	-$0.00	$1,000,000.00
Total Gross Payment	25% Federal Total Withholding	0% State Total Withholding	Total Net Payment
$40,000,000.00	-$10,000,000.00	-$0.00	$30,000,000.00

Past Prize Analysis for MEGA-Millions

• MEGA Millions Jackpot Analysis for Tuesday, February 3rd
  
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• MEGA Millions Jackpot Analysis for Tuesday, January 20th
  
• MEGA Millions Jackpot Analysis for Friday, January 16th
  
• MEGA Millions Jackpot Analysis for Tuesday, January 13th
  
• MEGA Millions Jackpot Analysis for Friday, January 9th
  
• MEGA Millions Jackpot Analysis for Tuesday, January 6th
  
• MEGA Millions Jackpot Analysis for Friday, January 2nd
  

More Prize Analysis for Texas(TX) MEGA Millions

Texas MEGA Millions	SUN MON TUE WED THU FRI SAT
18 31 39 45 55 MB: 06 Fri Jan 30, 2015 Last 10 | Calendar | Search Intelli-Combos | Power Picks | Frequency Chart | Overdue Chart Win Checker | Lotto Wheels | Prize Analysis News & Payout | Skip and Hit Analysis	Next Draw: Tue Feb 3, 2015 $40.00 Million  Change: +$8.00 Million