Texas Lottery

TXLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Aug 29, 2025 is estimated to be $277 Million, with a cash option of 124.6 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 Aug 29, 2025

Draw Date	Jackpot	Cash Option
Fri Aug 29, 2025	$277,000,000	$124,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$124,600,000
Federal Tax(24%)	$29,904,000
Additional Federal Tax	$16,158,330
State Tax(0%)	$0
Net Lumpsum Payment	$78,537,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,169,127	-$1,502,907 -$0	$2,666,220
2	$4,377,708	-$1,580,082 -$0	$2,797,626
3	$4,596,538	-$1,661,049 -$0	$2,935,489
4	$4,826,448	-$1,746,116 -$0	$3,080,332
5	$5,067,715	-$1,835,385 -$0	$3,232,330
6	$5,321,170	-$1,929,163 -$0	$3,392,007
7	$5,587,090	-$2,027,554 -$0	$3,559,536
8	$5,866,583	-$2,130,966 -$0	$3,735,617
9	$6,159,926	-$2,239,503 -$0	$3,920,423
10	$6,467,950	-$2,353,472 -$0	$4,114,478
11	$6,791,209	-$2,473,078 -$0	$4,318,131
12	$7,130,811	-$2,598,730 -$0	$4,532,081
13	$7,487,310	-$2,730,635 -$0	$4,756,675
14	$7,861,814	-$2,869,202 -$0	$4,992,612
15	$8,254,877	-$3,014,635 -$0	$5,240,242
16	$8,667,607	-$3,167,345 -$0	$5,500,262
17	$9,100,835	-$3,327,639 -$0	$5,773,196
18	$9,555,946	-$3,496,030 -$0	$6,059,916
19	$10,033,771	-$3,672,826 -$0	$6,360,945
20	$10,535,418	-$3,858,435 -$0	$6,676,983
21	$11,062,272	-$4,053,371 -$0	$7,008,901
22	$11,615,441	-$4,258,044 -$0	$7,357,397
23	$12,196,033	-$4,472,863 -$0	$7,723,170
24	$12,805,987	-$4,698,546 -$0	$8,107,441
25	$13,446,134	-$4,935,400 -$0	$8,510,734
26	$14,118,690	-$5,184,246 -$0	$8,934,444
27	$14,824,486	-$5,445,390 -$0	$9,379,096
28	$15,565,738	-$5,719,653 -$0	$9,846,085
29	$16,344,108	-$6,007,650 -$0	$10,336,458
30	$17,161,258	-$6,309,996 -$0	$10,851,262