Georgia Lottery

GALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 16, 2025 is estimated to be $122 Million, with a cash option of 54.8 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. Additionally, if you are a resident of Georgia, your state will take 5.75% of 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.

Georgia MEGA Millions Jackpot/Cash Option for Fri May 16, 2025

Draw Date	Jackpot	Cash Option
Fri May 16, 2025	$122,000,000	$54,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$54,800,000
Federal Tax(24%)	$13,152,000
Additional Federal Tax	$7,084,330
State Tax(5.75%)	$3,151,000
Net Lumpsum Payment	$31,412,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,836,222	-$639,733 -$105,583	$1,090,906
2	$1,928,088	-$673,723 -$110,865	$1,143,500
3	$2,024,468	-$709,384 -$116,407	$1,198,677
4	$2,125,728	-$746,850 -$122,229	$1,256,649
5	$2,231,990	-$786,167 -$128,339	$1,317,484
6	$2,343,620	-$827,470 -$134,758	$1,381,392
7	$2,460,740	-$870,804 -$141,493	$1,448,443
8	$2,583,838	-$916,350 -$148,571	$1,518,917
9	$2,713,036	-$964,154 -$156,000	$1,592,882
10	$2,848,700	-$1,014,349 -$163,800	$1,670,551
11	$2,991,074	-$1,067,028 -$171,987	$1,752,059
12	$3,140,646	-$1,122,369 -$180,587	$1,837,690
13	$3,297,660	-$1,180,465 -$189,615	$1,927,580
14	$3,462,604	-$1,241,494 -$199,100	$2,022,010
15	$3,635,722	-$1,305,548 -$209,054	$2,121,120
16	$3,817,502	-$1,372,806 -$219,506	$2,225,190
17	$4,008,310	-$1,443,405 -$230,478	$2,334,427
18	$4,208,756	-$1,517,570 -$242,003	$2,449,183
19	$4,419,206	-$1,595,437 -$254,104	$2,569,665
20	$4,640,148	-$1,677,185 -$266,809	$2,696,154
21	$4,872,192	-$1,763,041 -$280,151	$2,829,000
22	$5,115,826	-$1,853,186 -$294,160	$2,968,480
23	$5,371,538	-$1,947,799 -$308,863	$3,114,876
24	$5,640,182	-$2,047,198 -$324,310	$3,268,674
25	$5,922,124	-$2,151,516 -$340,522	$3,430,086
26	$6,218,340	-$2,261,116 -$357,555	$3,599,669
27	$6,529,196	-$2,376,133 -$375,429	$3,777,634
28	$6,855,668	-$2,496,928 -$394,201	$3,964,539
29	$7,198,488	-$2,623,771 -$413,913	$4,160,804
30	$7,558,388	-$2,756,934 -$434,607	$4,366,847