Maryland Lottery

MDLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 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 Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,300,000
Federal Tax(24%)	$3,192,000
Additional Federal Tax	$1,689,330
State Tax(8.95%)	$1,190,350
Net Lumpsum Payment	$7,228,320

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$39,065	$275,586
2	$458,316	-$129,907 -$41,019	$287,390
3	$481,226	-$138,384 -$43,070	$299,772
4	$505,296	-$147,290 -$45,224	$312,782
5	$530,555	-$156,636 -$47,485	$326,434
6	$557,090	-$166,454 -$49,860	$340,776
7	$584,930	-$176,754 -$52,351	$355,825
8	$614,191	-$187,581 -$54,970	$371,640
9	$644,902	-$198,944 -$57,719	$388,239
10	$677,150	-$210,876 -$60,605	$405,669
11	$710,993	-$223,398 -$63,634	$423,961
12	$746,547	-$236,553 -$66,816	$443,178
13	$783,870	-$250,362 -$70,156	$463,352
14	$823,078	-$264,869 -$73,665	$484,544
15	$864,229	-$280,095 -$77,348	$506,786
16	$907,439	-$296,083 -$81,216	$530,140
17	$952,795	-$312,865 -$85,275	$554,655
18	$1,000,442	-$330,494 -$89,540	$580,408
19	$1,050,467	-$349,003 -$94,017	$607,447
20	$1,102,986	-$368,435 -$98,717	$635,834
21	$1,158,144	-$388,844 -$103,654	$665,646
22	$1,216,057	-$410,271 -$108,837	$696,949
23	$1,276,841	-$432,762 -$114,277	$729,802
24	$1,340,699	-$456,389 -$119,993	$764,317
25	$1,407,718	-$481,186 -$125,991	$800,541
26	$1,478,130	-$507,238 -$132,293	$838,599
27	$1,552,022	-$534,579 -$138,906	$878,537
28	$1,629,626	-$563,292 -$145,852	$920,482
29	$1,711,116	-$593,443 -$153,145	$964,528
30	$1,796,666	-$625,097 -$160,802	$1,010,767