Florida Lottery

FLLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Aug 8, 2025 is estimated to be $166 Million, with a cash option of 75.2 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 Florida, 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.

Florida MEGA Millions Jackpot/Cash Option for Fri Aug 8, 2025

Draw Date	Jackpot	Cash Option
Fri Aug 8, 2025	$166,000,000	$75,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$75,200,000
Federal Tax(24%)	$18,048,000
Additional Federal Tax	$9,736,330
State Tax(0%)	$0
Net Lumpsum Payment	$47,415,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,498,466	-$884,763 -$0	$1,613,703
2	$2,623,464	-$931,012 -$0	$1,692,452
3	$2,754,604	-$979,534 -$0	$1,775,070
4	$2,892,384	-$1,030,512 -$0	$1,861,872
5	$3,036,970	-$1,084,009 -$0	$1,952,961
6	$3,188,860	-$1,140,209 -$0	$2,048,651
7	$3,348,220	-$1,199,172 -$0	$2,149,048
8	$3,515,714	-$1,261,145 -$0	$2,254,569
9	$3,691,508	-$1,326,188 -$0	$2,365,320
10	$3,876,100	-$1,394,487 -$0	$2,481,613
11	$4,069,822	-$1,466,165 -$0	$2,603,657
12	$4,273,338	-$1,541,465 -$0	$2,731,873
13	$4,486,980	-$1,620,513 -$0	$2,866,467
14	$4,711,412	-$1,703,553 -$0	$3,007,859
15	$4,946,966	-$1,790,708 -$0	$3,156,258
16	$5,194,306	-$1,882,224 -$0	$3,312,082
17	$5,453,930	-$1,978,284 -$0	$3,475,646
18	$5,726,668	-$2,079,198 -$0	$3,647,470
19	$6,013,018	-$2,185,147 -$0	$3,827,871
20	$6,313,644	-$2,296,379 -$0	$4,017,265
21	$6,629,376	-$2,413,200 -$0	$4,216,176
22	$6,960,878	-$2,535,855 -$0	$4,425,023
23	$7,308,814	-$2,664,592 -$0	$4,644,222
24	$7,674,346	-$2,799,838 -$0	$4,874,508
25	$8,057,972	-$2,941,780 -$0	$5,116,192
26	$8,461,020	-$3,090,908 -$0	$5,370,112
27	$8,883,988	-$3,247,406 -$0	$5,636,582
28	$9,328,204	-$3,411,766 -$0	$5,916,438
29	$9,794,664	-$3,584,356 -$0	$6,210,308
30	$10,284,364	-$3,765,545 -$0	$6,518,819