Oklahoma Lottery

OKLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 1, 2025 is estimated to be $50 Million, with a cash option of 22.4 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 Oklahoma, 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.

Oklahoma MEGA Millions Jackpot/Cash Option for Tue Jul 1, 2025

Draw Date	Jackpot	Cash Option
Tue Jul 1, 2025	$50,000,000	$22,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$22,400,000
Federal Tax(24%)	$5,376,000
Additional Federal Tax	$2,872,330
State Tax(4.75%)	$1,064,000
Net Lumpsum Payment	$13,087,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$752,550	-$238,774 -$35,746	$478,030
2	$790,200	-$252,704 -$37,535	$499,961
3	$829,700	-$267,319 -$39,411	$522,970
4	$871,200	-$282,674 -$41,382	$547,144
5	$914,750	-$298,788 -$43,451	$572,511
6	$960,500	-$315,715 -$45,624	$599,161
7	$1,008,500	-$333,475 -$47,904	$627,121
8	$1,058,950	-$352,142 -$50,300	$656,508
9	$1,111,900	-$371,733 -$52,815	$687,352
10	$1,167,500	-$392,305 -$55,456	$719,739
11	$1,225,850	-$413,895 -$58,228	$753,727
12	$1,287,150	-$436,576 -$61,140	$789,434
13	$1,351,500	-$460,385 -$64,196	$826,919
14	$1,419,100	-$485,397 -$67,407	$866,296
15	$1,490,050	-$511,649 -$70,777	$907,624
16	$1,564,550	-$539,214 -$74,316	$951,020
17	$1,642,750	-$568,148 -$78,031	$996,571
18	$1,724,900	-$598,543 -$81,933	$1,044,424
19	$1,811,150	-$630,456 -$86,030	$1,094,664
20	$1,901,700	-$663,959 -$90,331	$1,147,410
21	$1,996,800	-$699,146 -$94,848	$1,202,806
22	$2,096,650	-$736,091 -$99,591	$1,260,968
23	$2,201,450	-$774,867 -$104,569	$1,322,014
24	$2,311,550	-$815,604 -$109,799	$1,386,147
25	$2,427,100	-$858,357 -$115,287	$1,453,456
26	$2,548,500	-$903,275 -$121,054	$1,524,171
27	$2,675,900	-$950,413 -$127,105	$1,598,382
28	$2,809,700	-$999,919 -$133,461	$1,676,320
29	$2,950,200	-$1,051,904 -$140,135	$1,758,161
30	$3,097,700	-$1,106,479 -$147,141	$1,844,080