California Lottery

CALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 13, 2025 is estimated to be $264 Million, with a cash option of 117.3 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 Jun 13, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 13, 2025	$264,000,000	$117,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$117,300,000
Federal Tax(24%)	$28,152,000
Additional Federal Tax	$15,209,330
State Tax(0%)	$0
Net Lumpsum Payment	$73,938,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,973,464	-$1,430,512 -$0	$2,542,952
2	$4,172,256	-$1,504,065 -$0	$2,668,191
3	$4,380,816	-$1,581,232 -$0	$2,799,584
4	$4,599,936	-$1,662,307 -$0	$2,937,629
5	$4,829,880	-$1,747,386 -$0	$3,082,494
6	$5,071,440	-$1,836,763 -$0	$3,234,677
7	$5,324,880	-$1,930,536 -$0	$3,394,344
8	$5,591,256	-$2,029,095 -$0	$3,562,161
9	$5,870,832	-$2,132,538 -$0	$3,738,294
10	$6,164,400	-$2,241,158 -$0	$3,923,242
11	$6,472,488	-$2,355,151 -$0	$4,117,337
12	$6,796,152	-$2,474,907 -$0	$4,321,245
13	$7,135,920	-$2,600,621 -$0	$4,535,299
14	$7,492,848	-$2,732,684 -$0	$4,760,164
15	$7,867,464	-$2,871,292 -$0	$4,996,172
16	$8,260,824	-$3,016,835 -$0	$5,243,989
17	$8,673,720	-$3,169,607 -$0	$5,504,113
18	$9,107,472	-$3,330,095 -$0	$5,777,377
19	$9,562,872	-$3,498,593 -$0	$6,064,279
20	$10,040,976	-$3,675,492 -$0	$6,365,484
21	$10,543,104	-$3,861,279 -$0	$6,681,825
22	$11,070,312	-$4,056,346 -$0	$7,013,966
23	$11,623,656	-$4,261,083 -$0	$7,362,573
24	$12,204,984	-$4,476,174 -$0	$7,728,810
25	$12,815,088	-$4,701,913 -$0	$8,113,175
26	$13,456,080	-$4,939,080 -$0	$8,517,000
27	$14,128,752	-$5,187,969 -$0	$8,940,783
28	$14,835,216	-$5,449,360 -$0	$9,385,856
29	$15,577,056	-$5,723,841 -$0	$9,853,215
30	$16,355,856	-$6,011,997 -$0	$10,343,859