Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 12, 2025 is estimated to be $182 Million, with a cash option of 82.1 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 Aug 12, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 12, 2025	$182,000,000	$82,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,100,000
Federal Tax(24%)	$19,704,000
Additional Federal Tax	$10,633,330
State Tax(4.25%)	$3,489,250
Net Lumpsum Payment	$48,273,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,739,282	-$973,865 -$116,419	$1,648,998
2	$2,876,328	-$1,024,572 -$122,244	$1,729,512
3	$3,020,108	-$1,077,770 -$128,355	$1,813,983
4	$3,171,168	-$1,133,663 -$134,775	$1,902,730
5	$3,329,690	-$1,192,316 -$141,512	$1,995,862
6	$3,496,220	-$1,253,932 -$148,589	$2,093,699
7	$3,670,940	-$1,318,578 -$156,015	$2,196,347
8	$3,854,578	-$1,386,524 -$163,820	$2,304,234
9	$4,047,316	-$1,457,837 -$172,011	$2,417,468
10	$4,249,700	-$1,532,719 -$180,612	$2,536,369
11	$4,462,094	-$1,611,305 -$189,639	$2,661,150
12	$4,685,226	-$1,693,864 -$199,122	$2,792,240
13	$4,919,460	-$1,780,531 -$209,077	$2,929,852
14	$5,165,524	-$1,871,574 -$219,535	$3,074,415
15	$5,423,782	-$1,967,130 -$230,511	$3,226,141
16	$5,694,962	-$2,067,466 -$242,036	$3,385,460
17	$5,979,610	-$2,172,786 -$254,133	$3,552,691
18	$6,278,636	-$2,283,426 -$266,842	$3,728,368
19	$6,592,586	-$2,399,587 -$280,185	$3,912,814
20	$6,922,188	-$2,521,540 -$294,193	$4,106,455
21	$7,268,352	-$2,649,621 -$308,905	$4,309,826
22	$7,631,806	-$2,784,099 -$324,352	$4,523,355
23	$8,013,278	-$2,925,243 -$340,564	$4,747,471
24	$8,414,042	-$3,073,526 -$357,597	$4,982,919
25	$8,834,644	-$3,229,149 -$375,472	$5,230,023
26	$9,276,540	-$3,392,650 -$394,253	$5,489,637
27	$9,740,276	-$3,564,233 -$413,962	$5,762,081
28	$10,227,308	-$3,744,434 -$434,661	$6,048,213
29	$10,738,728	-$3,933,660 -$456,396	$6,348,672
30	$11,275,628	-$4,132,313 -$479,214	$6,664,101