Maryland Lottery

MDLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Aug 29, 2025 is estimated to be $277 Million, with a cash option of 124.6 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 Fri Aug 29, 2025

Draw Date	Jackpot	Cash Option
Fri Aug 29, 2025	$277,000,000	$124,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$124,600,000
Federal Tax(24%)	$29,904,000
Additional Federal Tax	$16,158,330
State Tax(8.95%)	$11,151,700
Net Lumpsum Payment	$67,385,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,169,127	-$1,502,907 -$373,137	$2,293,083
2	$4,377,708	-$1,580,082 -$391,805	$2,405,821
3	$4,596,538	-$1,661,049 -$411,390	$2,524,099
4	$4,826,448	-$1,746,116 -$431,967	$2,648,365
5	$5,067,715	-$1,835,385 -$453,560	$2,778,770
6	$5,321,170	-$1,929,163 -$476,245	$2,915,762
7	$5,587,090	-$2,027,554 -$500,045	$3,059,491
8	$5,866,583	-$2,130,966 -$525,059	$3,210,558
9	$6,159,926	-$2,239,503 -$551,313	$3,369,110
10	$6,467,950	-$2,353,472 -$578,882	$3,535,596
11	$6,791,209	-$2,473,078 -$607,813	$3,710,318
12	$7,130,811	-$2,598,730 -$638,208	$3,893,873
13	$7,487,310	-$2,730,635 -$670,114	$4,086,561
14	$7,861,814	-$2,869,202 -$703,632	$4,288,980
15	$8,254,877	-$3,014,635 -$738,811	$4,501,431
16	$8,667,607	-$3,167,345 -$775,751	$4,724,511
17	$9,100,835	-$3,327,639 -$814,525	$4,958,671
18	$9,555,946	-$3,496,030 -$855,257	$5,204,659
19	$10,033,771	-$3,672,826 -$898,023	$5,462,922
20	$10,535,418	-$3,858,435 -$942,920	$5,734,063
21	$11,062,272	-$4,053,371 -$990,073	$6,018,828
22	$11,615,441	-$4,258,044 -$1,039,582	$6,317,815
23	$12,196,033	-$4,472,863 -$1,091,545	$6,631,625
24	$12,805,987	-$4,698,546 -$1,146,136	$6,961,305
25	$13,446,134	-$4,935,400 -$1,203,429	$7,307,305
26	$14,118,690	-$5,184,246 -$1,263,623	$7,670,821
27	$14,824,486	-$5,445,390 -$1,326,791	$8,052,305
28	$15,565,738	-$5,719,653 -$1,393,134	$8,452,951
29	$16,344,108	-$6,007,650 -$1,462,798	$8,873,660
30	$17,161,258	-$6,309,996 -$1,535,933	$9,315,329