Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 27, 2025 is estimated to be $348 Million, with a cash option of 155.5 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 Michigan, your state will take 4.25% 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.

Michigan MEGA Millions Jackpot/Cash Option for Fri Jun 27, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 27, 2025	$348,000,000	$155,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$155,500,000
Federal Tax(24%)	$37,320,000
Additional Federal Tax	$20,175,330
State Tax(4.25%)	$6,608,750
Net Lumpsum Payment	$91,395,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,237,748	-$1,898,297 -$222,604	$3,116,847
2	$5,499,792	-$1,995,253 -$233,741	$3,270,798
3	$5,774,712	-$2,096,974 -$245,425	$3,432,313
4	$6,063,552	-$2,203,845 -$257,701	$3,602,006
5	$6,366,660	-$2,315,995 -$270,583	$3,780,082
6	$6,685,080	-$2,433,810 -$284,116	$3,967,154
7	$7,019,160	-$2,557,420 -$298,314	$4,163,426
8	$7,370,292	-$2,687,338 -$313,237	$4,369,717
9	$7,738,824	-$2,823,695 -$328,900	$4,586,229
10	$8,125,800	-$2,966,876 -$345,347	$4,813,577
11	$8,531,916	-$3,117,139 -$362,606	$5,052,171
12	$8,958,564	-$3,274,999 -$380,739	$5,302,826
13	$9,406,440	-$3,440,713 -$399,774	$5,565,953
14	$9,876,936	-$3,614,797 -$419,770	$5,842,369
15	$10,370,748	-$3,797,507 -$440,757	$6,132,484
16	$10,889,268	-$3,989,360 -$462,794	$6,437,114
17	$11,433,540	-$4,190,740 -$485,925	$6,756,875
18	$12,005,304	-$4,402,293 -$510,225	$7,092,786
19	$12,605,604	-$4,624,404 -$535,738	$7,445,462
20	$13,235,832	-$4,857,588 -$562,523	$7,815,721
21	$13,897,728	-$5,102,490 -$590,653	$8,204,585
22	$14,592,684	-$5,359,623 -$620,189	$8,612,872
23	$15,322,092	-$5,629,504 -$651,189	$9,041,399
24	$16,088,388	-$5,913,034 -$683,756	$9,491,598
25	$16,892,616	-$6,210,598 -$717,936	$9,964,082
26	$17,737,560	-$6,523,228 -$753,846	$10,460,486
27	$18,624,264	-$6,851,308 -$791,531	$10,981,425
28	$19,555,512	-$7,195,870 -$831,109	$11,528,533
29	$20,533,392	-$7,557,685 -$872,669	$12,103,038
30	$21,559,992	-$7,937,527 -$916,300	$12,706,165