Oklahoma Lottery

OKLottery 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 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 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(4.75%)	$631,750
Net Lumpsum Payment	$7,786,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$20,733	$293,918
2	$458,316	-$129,907 -$21,770	$306,639
3	$481,226	-$138,384 -$22,858	$319,984
4	$505,296	-$147,290 -$24,002	$334,004
5	$530,555	-$156,636 -$25,201	$348,718
6	$557,090	-$166,454 -$26,462	$364,174
7	$584,930	-$176,754 -$27,784	$380,392
8	$614,191	-$187,581 -$29,174	$397,436
9	$644,902	-$198,944 -$30,633	$415,325
10	$677,150	-$210,876 -$32,165	$434,109
11	$710,993	-$223,398 -$33,772	$453,823
12	$746,547	-$236,553 -$35,461	$474,533
13	$783,870	-$250,362 -$37,234	$496,274
14	$823,078	-$264,869 -$39,096	$519,113
15	$864,229	-$280,095 -$41,051	$543,083
16	$907,439	-$296,083 -$43,103	$568,253
17	$952,795	-$312,865 -$45,258	$594,672
18	$1,000,442	-$330,494 -$47,521	$622,427
19	$1,050,467	-$349,003 -$49,897	$651,567
20	$1,102,986	-$368,435 -$52,392	$682,159
21	$1,158,144	-$388,844 -$55,012	$714,288
22	$1,216,057	-$410,271 -$57,763	$748,023
23	$1,276,841	-$432,762 -$60,650	$783,429
24	$1,340,699	-$456,389 -$63,683	$820,627
25	$1,407,718	-$481,186 -$66,867	$859,665
26	$1,478,130	-$507,238 -$70,211	$900,681
27	$1,552,022	-$534,579 -$73,721	$943,722
28	$1,629,626	-$563,292 -$77,407	$988,927
29	$1,711,116	-$593,443 -$81,278	$1,036,395
30	$1,796,666	-$625,097 -$85,342	$1,086,227