California Lottery

CALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 23, 2025 is estimated to be $154 Million, with a cash option of 69 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. The good news is that if you're a resident of California, you won't owe any state tax on your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

California MEGA Millions Jackpot/Cash Option for Fri May 23, 2025

Draw Date	Jackpot	Cash Option
Fri May 23, 2025	$154,000,000	$69,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$69,000,000
Federal Tax(24%)	$16,560,000
Additional Federal Tax	$8,930,330
State Tax(0%)	$0
Net Lumpsum Payment	$43,509,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,317,854	-$817,936 -$0	$1,499,918
2	$2,433,816	-$860,842 -$0	$1,572,974
3	$2,555,476	-$905,857 -$0	$1,649,619
4	$2,683,296	-$953,150 -$0	$1,730,146
5	$2,817,430	-$1,002,779 -$0	$1,814,651
6	$2,958,340	-$1,054,916 -$0	$1,903,424
7	$3,106,180	-$1,109,617 -$0	$1,996,563
8	$3,261,566	-$1,167,110 -$0	$2,094,456
9	$3,424,652	-$1,227,452 -$0	$2,197,200
10	$3,595,900	-$1,290,813 -$0	$2,305,087
11	$3,775,618	-$1,357,309 -$0	$2,418,309
12	$3,964,422	-$1,427,167 -$0	$2,537,255
13	$4,162,620	-$1,500,500 -$0	$2,662,120
14	$4,370,828	-$1,577,537 -$0	$2,793,291
15	$4,589,354	-$1,658,391 -$0	$2,930,963
16	$4,818,814	-$1,743,292 -$0	$3,075,522
17	$5,059,670	-$1,832,408 -$0	$3,227,262
18	$5,312,692	-$1,926,026 -$0	$3,386,666
19	$5,578,342	-$2,024,317 -$0	$3,554,025
20	$5,857,236	-$2,127,508 -$0	$3,729,728
21	$6,150,144	-$2,235,884 -$0	$3,914,260
22	$6,457,682	-$2,349,673 -$0	$4,108,009
23	$6,780,466	-$2,469,103 -$0	$4,311,363
24	$7,119,574	-$2,594,573 -$0	$4,525,001
25	$7,475,468	-$2,726,254 -$0	$4,749,214
26	$7,849,380	-$2,864,601 -$0	$4,984,779
27	$8,241,772	-$3,009,786 -$0	$5,231,986
28	$8,653,876	-$3,162,265 -$0	$5,491,611
29	$9,086,616	-$3,322,378 -$0	$5,764,238
30	$9,540,916	-$3,490,469 -$0	$6,050,447