Oklahoma Lottery

OKLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 20, 2025 is estimated to be $139 Million, with a cash option of 62.3 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 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 May 20, 2025

Draw Date	Jackpot	Cash Option
Tue May 20, 2025	$139,000,000	$62,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$62,300,000
Federal Tax(24%)	$14,952,000
Additional Federal Tax	$8,059,330
State Tax(4.75%)	$2,959,250
Net Lumpsum Payment	$36,329,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,092,089	-$734,403 -$99,374	$1,258,312
2	$2,196,756	-$773,130 -$104,346	$1,319,280
3	$2,306,566	-$813,760 -$109,562	$1,383,244
4	$2,421,936	-$856,447 -$115,042	$1,450,447
5	$2,543,005	-$901,242 -$120,793	$1,520,970
6	$2,670,190	-$948,301 -$126,834	$1,595,055
7	$2,803,630	-$997,673 -$133,172	$1,672,785
8	$2,943,881	-$1,049,566 -$139,834	$1,754,481
9	$3,091,082	-$1,104,031 -$146,826	$1,840,225
10	$3,245,650	-$1,161,221 -$154,168	$1,930,261
11	$3,407,863	-$1,221,240 -$161,873	$2,024,750
12	$3,578,277	-$1,284,293 -$169,968	$2,124,016
13	$3,757,170	-$1,350,483 -$178,466	$2,228,221
14	$3,945,098	-$1,420,017 -$187,392	$2,337,689
15	$4,142,339	-$1,492,996 -$196,761	$2,452,582
16	$4,349,449	-$1,569,627 -$206,599	$2,573,223
17	$4,566,845	-$1,650,063 -$216,925	$2,699,857
18	$4,795,222	-$1,734,563 -$227,773	$2,832,886
19	$5,034,997	-$1,823,279 -$239,162	$2,972,556
20	$5,286,726	-$1,916,419 -$251,119	$3,119,188
21	$5,551,104	-$2,014,239 -$263,677	$3,273,188
22	$5,828,687	-$2,116,945 -$276,863	$3,434,879
23	$6,120,031	-$2,224,742 -$290,701	$3,604,588
24	$6,426,109	-$2,337,991 -$305,240	$3,782,878
25	$6,747,338	-$2,456,845 -$320,499	$3,969,994
26	$7,084,830	-$2,581,717 -$336,529	$4,166,584
27	$7,439,002	-$2,712,761 -$353,353	$4,372,888
28	$7,810,966	-$2,850,388 -$371,021	$4,589,557
29	$8,201,556	-$2,994,906 -$389,574	$4,817,076
30	$8,611,606	-$3,146,625 -$409,051	$5,055,930