Ohio Lottery

OHLottery 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 Ohio, your state will take 3.99% 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.

Ohio 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(3.99%)	$3,299,730
Net Lumpsum Payment	$48,840,940

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$108,697	$1,647,238
2	$2,860,524	-$1,018,724 -$114,135	$1,727,665
3	$3,003,514	-$1,071,631 -$119,840	$1,812,043
4	$3,153,744	-$1,127,216 -$125,834	$1,900,694
5	$3,311,395	-$1,185,547 -$132,125	$1,993,723
6	$3,477,010	-$1,246,824 -$138,733	$2,091,453
7	$3,650,770	-$1,311,115 -$145,666	$2,193,989
8	$3,833,399	-$1,378,688 -$152,953	$2,301,758
9	$4,025,078	-$1,449,609 -$160,601	$2,414,868
10	$4,226,350	-$1,524,080 -$168,631	$2,533,639
11	$4,437,577	-$1,602,234 -$177,059	$2,658,284
12	$4,659,483	-$1,684,339 -$185,913	$2,789,231
13	$4,892,430	-$1,770,529 -$195,208	$2,926,693
14	$5,137,142	-$1,861,073 -$204,972	$3,071,097
15	$5,393,981	-$1,956,103 -$215,220	$3,222,658
16	$5,663,671	-$2,055,889 -$225,980	$3,381,802
17	$5,946,755	-$2,160,630 -$237,276	$3,548,849
18	$6,244,138	-$2,270,661 -$249,141	$3,724,336
19	$6,556,363	-$2,386,185 -$261,599	$3,908,579
20	$6,884,154	-$2,507,467 -$274,678	$4,102,009
21	$7,228,416	-$2,634,844 -$288,414	$4,305,158
22	$7,589,873	-$2,768,583 -$302,836	$4,518,454
23	$7,969,249	-$2,908,953 -$317,973	$4,742,323
24	$8,367,811	-$3,056,420 -$333,876	$4,977,515
25	$8,786,102	-$3,211,188 -$350,565	$5,224,349
26	$9,225,570	-$3,373,791 -$368,100	$5,483,679
27	$9,686,758	-$3,544,431 -$386,502	$5,755,825
28	$10,171,114	-$3,723,643 -$405,827	$6,041,644
29	$10,679,724	-$3,911,828 -$426,121	$6,341,775
30	$11,213,674	-$4,109,390 -$447,426	$6,656,858