North Carolina Lottery

NCLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 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 North Carolina, your state will take 4.75% 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.

North Carolina MEGA Millions Jackpot/Cash Option for Tue Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(4.75%)	$3,928,250
Net Lumpsum Payment	$48,212,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$129,401	$1,626,534
2	$2,860,524	-$1,018,724 -$135,875	$1,705,925
3	$3,003,514	-$1,071,631 -$142,667	$1,789,216
4	$3,153,744	-$1,127,216 -$149,803	$1,876,725
5	$3,311,395	-$1,185,547 -$157,291	$1,968,557
6	$3,477,010	-$1,246,824 -$165,158	$2,065,028
7	$3,650,770	-$1,311,115 -$173,412	$2,166,243
8	$3,833,399	-$1,378,688 -$182,086	$2,272,625
9	$4,025,078	-$1,449,609 -$191,191	$2,384,278
10	$4,226,350	-$1,524,080 -$200,752	$2,501,518
11	$4,437,577	-$1,602,234 -$210,785	$2,624,558
12	$4,659,483	-$1,684,339 -$221,325	$2,753,819
13	$4,892,430	-$1,770,529 -$232,390	$2,889,511
14	$5,137,142	-$1,861,073 -$244,014	$3,032,055
15	$5,393,981	-$1,956,103 -$256,214	$3,181,664
16	$5,663,671	-$2,055,889 -$269,024	$3,338,758
17	$5,946,755	-$2,160,630 -$282,471	$3,503,654
18	$6,244,138	-$2,270,661 -$296,597	$3,676,880
19	$6,556,363	-$2,386,185 -$311,427	$3,858,751
20	$6,884,154	-$2,507,467 -$326,997	$4,049,690
21	$7,228,416	-$2,634,844 -$343,350	$4,250,222
22	$7,589,873	-$2,768,583 -$360,519	$4,460,771
23	$7,969,249	-$2,908,953 -$378,539	$4,681,757
24	$8,367,811	-$3,056,420 -$397,471	$4,913,920
25	$8,786,102	-$3,211,188 -$417,340	$5,157,574
26	$9,225,570	-$3,373,791 -$438,215	$5,413,564
27	$9,686,758	-$3,544,431 -$460,121	$5,682,206
28	$10,171,114	-$3,723,643 -$483,128	$5,964,343
29	$10,679,724	-$3,911,828 -$507,287	$6,260,609
30	$11,213,674	-$4,109,390 -$532,650	$6,571,634