Massachusetts Lottery

MALottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 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 Tue Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(5%)	$4,135,000
Net Lumpsum Payment	$48,005,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$136,212	$1,619,723
2	$2,860,524	-$1,018,724 -$143,026	$1,698,774
3	$3,003,514	-$1,071,631 -$150,176	$1,781,707
4	$3,153,744	-$1,127,216 -$157,687	$1,868,841
5	$3,311,395	-$1,185,547 -$165,570	$1,960,278
6	$3,477,010	-$1,246,824 -$173,851	$2,056,335
7	$3,650,770	-$1,311,115 -$182,539	$2,157,116
8	$3,833,399	-$1,378,688 -$191,670	$2,263,041
9	$4,025,078	-$1,449,609 -$201,254	$2,374,215
10	$4,226,350	-$1,524,080 -$211,318	$2,490,952
11	$4,437,577	-$1,602,234 -$221,879	$2,613,464
12	$4,659,483	-$1,684,339 -$232,974	$2,742,170
13	$4,892,430	-$1,770,529 -$244,622	$2,877,279
14	$5,137,142	-$1,861,073 -$256,857	$3,019,212
15	$5,393,981	-$1,956,103 -$269,699	$3,168,179
16	$5,663,671	-$2,055,889 -$283,184	$3,324,598
17	$5,946,755	-$2,160,630 -$297,338	$3,488,787
18	$6,244,138	-$2,270,661 -$312,207	$3,661,270
19	$6,556,363	-$2,386,185 -$327,818	$3,842,360
20	$6,884,154	-$2,507,467 -$344,208	$4,032,479
21	$7,228,416	-$2,634,844 -$361,421	$4,232,151
22	$7,589,873	-$2,768,583 -$379,494	$4,441,796
23	$7,969,249	-$2,908,953 -$398,462	$4,661,834
24	$8,367,811	-$3,056,420 -$418,391	$4,893,000
25	$8,786,102	-$3,211,188 -$439,305	$5,135,609
26	$9,225,570	-$3,373,791 -$461,279	$5,390,500
27	$9,686,758	-$3,544,431 -$484,338	$5,657,989
28	$10,171,114	-$3,723,643 -$508,556	$5,938,915
29	$10,679,724	-$3,911,828 -$533,986	$6,233,910
30	$11,213,674	-$4,109,390 -$560,684	$6,543,600