Indiana Lottery

INLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Indiana, your state will take 3.15% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Indiana MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,800,000
Federal Tax(24%)	$7,632,000
Additional Federal Tax	$4,094,330
State Tax(3.15%)	$1,001,700
Net Lumpsum Payment	$19,071,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$33,187	$670,232
2	$1,106,280	-$369,654 -$34,848	$701,778
3	$1,161,580	-$390,115 -$36,590	$734,875
4	$1,219,680	-$411,612 -$38,420	$769,648
5	$1,280,650	-$434,171 -$40,340	$806,139
6	$1,344,700	-$457,869 -$42,358	$844,473
7	$1,411,900	-$482,733 -$44,475	$884,692
8	$1,482,530	-$508,866 -$46,700	$926,964
9	$1,556,660	-$536,295 -$49,035	$971,330
10	$1,634,500	-$565,095 -$51,487	$1,017,918
11	$1,716,190	-$595,321 -$54,060	$1,066,809
12	$1,802,010	-$627,074 -$56,763	$1,118,173
13	$1,892,100	-$660,407 -$59,601	$1,172,092
14	$1,986,740	-$695,424 -$62,582	$1,228,734
15	$2,086,070	-$732,176 -$65,711	$1,288,183
16	$2,190,370	-$770,767 -$68,997	$1,350,606
17	$2,299,850	-$811,275 -$72,445	$1,416,130
18	$2,414,860	-$853,829 -$76,068	$1,484,963
19	$2,535,610	-$898,506 -$79,872	$1,557,232
20	$2,662,380	-$945,411 -$83,865	$1,633,104
21	$2,795,520	-$994,673 -$88,059	$1,712,788
22	$2,935,310	-$1,046,395 -$92,462	$1,796,453
23	$3,082,030	-$1,100,681 -$97,084	$1,884,265
24	$3,236,170	-$1,157,713 -$101,939	$1,976,518
25	$3,397,940	-$1,217,568 -$107,035	$2,073,337
26	$3,567,900	-$1,280,453 -$112,389	$2,175,058
27	$3,746,260	-$1,346,447 -$118,007	$2,281,806
28	$3,933,580	-$1,415,755 -$123,908	$2,393,917
29	$4,130,280	-$1,488,534 -$130,104	$2,511,642
30	$4,336,780	-$1,564,939 -$136,609	$2,635,232