Massachusetts Lottery

MALottery 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 Massachusetts, your state will take 5% 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.

Massachusetts 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%)	$2,740,000
Net Lumpsum Payment	$31,823,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,836,222	-$639,733 -$91,811	$1,104,678
2	$1,928,088	-$673,723 -$96,404	$1,157,961
3	$2,024,468	-$709,384 -$101,223	$1,213,861
4	$2,125,728	-$746,850 -$106,286	$1,272,592
5	$2,231,990	-$786,167 -$111,600	$1,334,223
6	$2,343,620	-$827,470 -$117,181	$1,398,969
7	$2,460,740	-$870,804 -$123,037	$1,466,899
8	$2,583,838	-$916,350 -$129,192	$1,538,296
9	$2,713,036	-$964,154 -$135,652	$1,613,230
10	$2,848,700	-$1,014,349 -$142,435	$1,691,916
11	$2,991,074	-$1,067,028 -$149,554	$1,774,492
12	$3,140,646	-$1,122,369 -$157,032	$1,861,245
13	$3,297,660	-$1,180,465 -$164,883	$1,952,312
14	$3,462,604	-$1,241,494 -$173,130	$2,047,980
15	$3,635,722	-$1,305,548 -$181,786	$2,148,388
16	$3,817,502	-$1,372,806 -$190,875	$2,253,821
17	$4,008,310	-$1,443,405 -$200,416	$2,364,489
18	$4,208,756	-$1,517,570 -$210,438	$2,480,748
19	$4,419,206	-$1,595,437 -$220,960	$2,602,809
20	$4,640,148	-$1,677,185 -$232,007	$2,730,956
21	$4,872,192	-$1,763,041 -$243,610	$2,865,541
22	$5,115,826	-$1,853,186 -$255,791	$3,006,849
23	$5,371,538	-$1,947,799 -$268,577	$3,155,162
24	$5,640,182	-$2,047,198 -$282,009	$3,310,975
25	$5,922,124	-$2,151,516 -$296,106	$3,474,502
26	$6,218,340	-$2,261,116 -$310,917	$3,646,307
27	$6,529,196	-$2,376,133 -$326,460	$3,826,603
28	$6,855,668	-$2,496,928 -$342,783	$4,015,957
29	$7,198,488	-$2,623,771 -$359,924	$4,214,793
30	$7,558,388	-$2,756,934 -$377,919	$4,423,535