Texas Lottery

TXLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 12, 2025 is estimated to be $182 Million, with a cash option of 82.1 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 Tue Aug 12, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 12, 2025	$182,000,000	$82,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,100,000
Federal Tax(24%)	$19,704,000
Additional Federal Tax	$10,633,330
State Tax(0%)	$0
Net Lumpsum Payment	$51,762,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,739,282	-$973,865 -$0	$1,765,417
2	$2,876,328	-$1,024,572 -$0	$1,851,756
3	$3,020,108	-$1,077,770 -$0	$1,942,338
4	$3,171,168	-$1,133,663 -$0	$2,037,505
5	$3,329,690	-$1,192,316 -$0	$2,137,374
6	$3,496,220	-$1,253,932 -$0	$2,242,288
7	$3,670,940	-$1,318,578 -$0	$2,352,362
8	$3,854,578	-$1,386,524 -$0	$2,468,054
9	$4,047,316	-$1,457,837 -$0	$2,589,479
10	$4,249,700	-$1,532,719 -$0	$2,716,981
11	$4,462,094	-$1,611,305 -$0	$2,850,789
12	$4,685,226	-$1,693,864 -$0	$2,991,362
13	$4,919,460	-$1,780,531 -$0	$3,138,929
14	$5,165,524	-$1,871,574 -$0	$3,293,950
15	$5,423,782	-$1,967,130 -$0	$3,456,652
16	$5,694,962	-$2,067,466 -$0	$3,627,496
17	$5,979,610	-$2,172,786 -$0	$3,806,824
18	$6,278,636	-$2,283,426 -$0	$3,995,210
19	$6,592,586	-$2,399,587 -$0	$4,192,999
20	$6,922,188	-$2,521,540 -$0	$4,400,648
21	$7,268,352	-$2,649,621 -$0	$4,618,731
22	$7,631,806	-$2,784,099 -$0	$4,847,707
23	$8,013,278	-$2,925,243 -$0	$5,088,035
24	$8,414,042	-$3,073,526 -$0	$5,340,516
25	$8,834,644	-$3,229,149 -$0	$5,605,495
26	$9,276,540	-$3,392,650 -$0	$5,883,890
27	$9,740,276	-$3,564,233 -$0	$6,176,043
28	$10,227,308	-$3,744,434 -$0	$6,482,874
29	$10,738,728	-$3,933,660 -$0	$6,805,068
30	$11,275,628	-$4,132,313 -$0	$7,143,315