Michigan Lottery

MILottery 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 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 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(4.25%)	$565,250
Net Lumpsum Payment	$7,853,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$18,550	$296,101
2	$458,316	-$129,907 -$19,478	$308,931
3	$481,226	-$138,384 -$20,452	$322,390
4	$505,296	-$147,290 -$21,475	$336,531
5	$530,555	-$156,636 -$22,549	$351,370
6	$557,090	-$166,454 -$23,676	$366,960
7	$584,930	-$176,754 -$24,860	$383,316
8	$614,191	-$187,581 -$26,103	$400,507
9	$644,902	-$198,944 -$27,408	$418,550
10	$677,150	-$210,876 -$28,779	$437,495
11	$710,993	-$223,398 -$30,217	$457,378
12	$746,547	-$236,553 -$31,728	$478,266
13	$783,870	-$250,362 -$33,314	$500,194
14	$823,078	-$264,869 -$34,981	$523,228
15	$864,229	-$280,095 -$36,730	$547,404
16	$907,439	-$296,083 -$38,566	$572,790
17	$952,795	-$312,865 -$40,494	$599,436
18	$1,000,442	-$330,494 -$42,519	$627,429
19	$1,050,467	-$349,003 -$44,645	$656,819
20	$1,102,986	-$368,435 -$46,877	$687,674
21	$1,158,144	-$388,844 -$49,221	$720,079
22	$1,216,057	-$410,271 -$51,682	$754,104
23	$1,276,841	-$432,762 -$54,266	$789,813
24	$1,340,699	-$456,389 -$56,980	$827,330
25	$1,407,718	-$481,186 -$59,828	$866,704
26	$1,478,130	-$507,238 -$62,821	$908,071
27	$1,552,022	-$534,579 -$65,961	$951,482
28	$1,629,626	-$563,292 -$69,259	$997,075
29	$1,711,116	-$593,443 -$72,722	$1,044,951
30	$1,796,666	-$625,097 -$76,358	$1,095,211