Oklahoma Lottery

OKLottery 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 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 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