Maryland Lottery

MDLottery 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 Maryland, your state will take 8.95% 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.

Maryland 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(8.95%)	$7,401,650
Net Lumpsum Payment	$44,739,020

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$243,819	$1,512,116
2	$2,860,524	-$1,018,724 -$256,017	$1,585,783
3	$3,003,514	-$1,071,631 -$268,815	$1,663,068
4	$3,153,744	-$1,127,216 -$282,260	$1,744,268
5	$3,311,395	-$1,185,547 -$296,370	$1,829,478
6	$3,477,010	-$1,246,824 -$311,192	$1,918,994
7	$3,650,770	-$1,311,115 -$326,744	$2,012,911
8	$3,833,399	-$1,378,688 -$343,089	$2,111,622
9	$4,025,078	-$1,449,609 -$360,244	$2,215,225
10	$4,226,350	-$1,524,080 -$378,258	$2,324,012
11	$4,437,577	-$1,602,234 -$397,163	$2,438,180
12	$4,659,483	-$1,684,339 -$417,024	$2,558,120
13	$4,892,430	-$1,770,529 -$437,872	$2,684,029
14	$5,137,142	-$1,861,073 -$459,774	$2,816,295
15	$5,393,981	-$1,956,103 -$482,761	$2,955,117
16	$5,663,671	-$2,055,889 -$506,899	$3,100,883
17	$5,946,755	-$2,160,630 -$532,235	$3,253,890
18	$6,244,138	-$2,270,661 -$558,850	$3,414,627
19	$6,556,363	-$2,386,185 -$586,794	$3,583,384
20	$6,884,154	-$2,507,467 -$616,132	$3,760,555
21	$7,228,416	-$2,634,844 -$646,943	$3,946,629
22	$7,589,873	-$2,768,583 -$679,294	$4,141,996
23	$7,969,249	-$2,908,953 -$713,248	$4,347,048
24	$8,367,811	-$3,056,420 -$748,919	$4,562,472
25	$8,786,102	-$3,211,188 -$786,356	$4,788,558
26	$9,225,570	-$3,373,791 -$825,689	$5,026,090
27	$9,686,758	-$3,544,431 -$866,965	$5,275,362
28	$10,171,114	-$3,723,643 -$910,315	$5,537,156
29	$10,679,724	-$3,911,828 -$955,835	$5,812,061
30	$11,213,674	-$4,109,390 -$1,003,624	$6,100,660