Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 28, 2025 is estimated to be $714 Million, with a cash option of 334.1 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 Tue Oct 28, 2025

Draw Date	Jackpot	Cash Option
Tue Oct 28, 2025	$714,000,000	$334,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$334,100,000
Federal Tax(24%)	$80,184,000
Additional Federal Tax	$43,393,330
State Tax(4.25%)	$14,199,250
Net Lumpsum Payment	$196,323,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,746,414	-$3,936,504 -$456,723	$6,353,187
2	$11,284,056	-$4,135,431 -$479,572	$6,669,053
3	$11,848,116	-$4,344,133 -$503,545	$7,000,438
4	$12,440,736	-$4,563,403 -$528,731	$7,348,602
5	$13,062,630	-$4,793,503 -$555,162	$7,713,965
6	$13,715,940	-$5,035,228 -$582,927	$8,097,785
7	$14,401,380	-$5,288,841 -$612,059	$8,500,480
8	$15,121,806	-$5,555,399 -$642,677	$8,923,730
9	$15,877,932	-$5,835,165 -$674,812	$9,367,955
10	$16,671,900	-$6,128,933 -$708,556	$9,834,411
11	$17,505,138	-$6,437,231 -$743,968	$10,323,939
12	$18,380,502	-$6,761,116 -$781,171	$10,838,215
13	$19,299,420	-$7,101,116 -$820,225	$11,378,079
14	$20,264,748	-$7,458,287 -$861,252	$11,945,209
15	$21,277,914	-$7,833,159 -$904,311	$12,540,444
16	$22,341,774	-$8,226,787 -$949,525	$13,165,462
17	$23,458,470	-$8,639,964 -$996,985	$13,821,521
18	$24,631,572	-$9,074,012 -$1,046,842	$14,510,718
19	$25,863,222	-$9,529,723 -$1,099,187	$15,234,312
20	$27,156,276	-$10,008,153 -$1,154,142	$15,993,981
21	$28,514,304	-$10,510,623 -$1,211,858	$16,791,823
22	$29,940,162	-$11,038,190 -$1,272,457	$17,629,515
23	$31,436,706	-$11,591,912 -$1,336,060	$18,508,734
24	$33,008,934	-$12,173,636 -$1,402,880	$19,432,418
25	$34,658,988	-$12,784,156 -$1,473,007	$20,401,825
26	$36,392,580	-$13,425,585 -$1,546,685	$21,420,310
27	$38,211,852	-$14,098,716 -$1,624,004	$22,489,132
28	$40,122,516	-$14,805,661 -$1,705,207	$23,611,648
29	$42,128,856	-$15,548,007 -$1,790,476	$24,790,373
30	$44,235,156	-$16,327,338 -$1,879,994	$26,027,824