Texas Lottery

TXLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 20, 2025 is estimated to be $302 Million, with a cash option of 136 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. The good news is that if you're a resident of Texas, you won't owe any state tax on 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.

Texas MEGA Millions Jackpot/Cash Option for Fri Jun 20, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 20, 2025	$302,000,000	$136,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$136,000,000
Federal Tax(24%)	$32,640,000
Additional Federal Tax	$17,640,330
State Tax(0%)	$0
Net Lumpsum Payment	$85,719,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,545,402	-$1,642,129 -$0	$2,903,273
2	$4,772,808	-$1,726,269 -$0	$3,046,539
3	$5,011,388	-$1,814,544 -$0	$3,196,844
4	$5,262,048	-$1,907,288 -$0	$3,354,760
5	$5,525,090	-$2,004,614 -$0	$3,520,476
6	$5,801,420	-$2,106,856 -$0	$3,694,564
7	$6,091,340	-$2,214,126 -$0	$3,877,214
8	$6,396,058	-$2,326,872 -$0	$4,069,186
9	$6,715,876	-$2,445,205 -$0	$4,270,671
10	$7,051,700	-$2,569,459 -$0	$4,482,241
11	$7,404,134	-$2,699,860 -$0	$4,704,274
12	$7,774,386	-$2,836,853 -$0	$4,937,533
13	$8,163,060	-$2,980,663 -$0	$5,182,397
14	$8,571,364	-$3,131,735 -$0	$5,439,629
15	$8,999,902	-$3,290,294 -$0	$5,709,608
16	$9,449,882	-$3,456,787 -$0	$5,993,095
17	$9,922,210	-$3,631,548 -$0	$6,290,662
18	$10,418,396	-$3,815,137 -$0	$6,603,259
19	$10,939,346	-$4,007,888 -$0	$6,931,458
20	$11,486,268	-$4,210,250 -$0	$7,276,018
21	$12,060,672	-$4,422,779 -$0	$7,637,893
22	$12,663,766	-$4,645,924 -$0	$8,017,842
23	$13,296,758	-$4,880,131 -$0	$8,416,627
24	$13,961,762	-$5,126,182 -$0	$8,835,580
25	$14,659,684	-$5,384,413 -$0	$9,275,271
26	$15,392,940	-$5,655,718 -$0	$9,737,222
27	$16,162,436	-$5,940,432 -$0	$10,222,004
28	$16,970,588	-$6,239,448 -$0	$10,731,140
29	$17,819,208	-$6,553,437 -$0	$11,265,771
30	$18,710,108	-$6,883,070 -$0	$11,827,038