Indiana Lottery

INLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Mar 11, 2025 is estimated to be $256 Million, with a cash option of 119.5 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 Mar 11, 2025

Draw Date	Jackpot	Cash Option
Tue Mar 11, 2025	$256,000,000	$119,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$119,500,000
Federal Tax(24%)	$28,680,000
Additional Federal Tax	$15,495,330
State Tax(3.15%)	$3,764,250
Net Lumpsum Payment	$71,560,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,853,056	-$1,385,961 -$121,371	$2,345,724
2	$4,045,824	-$1,457,285 -$127,443	$2,461,096
3	$4,248,064	-$1,532,114 -$133,814	$2,582,136
4	$4,460,544	-$1,610,732 -$140,507	$2,709,305
5	$4,683,520	-$1,693,233 -$147,531	$2,842,756
6	$4,917,760	-$1,779,902 -$154,909	$2,982,949
7	$5,163,520	-$1,870,833 -$162,651	$3,130,036
8	$5,421,824	-$1,966,405 -$170,787	$3,284,632
9	$5,692,928	-$2,066,714 -$179,327	$3,446,887
10	$5,977,600	-$2,172,042 -$188,294	$3,617,264
11	$6,276,352	-$2,282,581 -$197,705	$3,796,066
12	$6,590,208	-$2,398,707 -$207,592	$3,983,909
13	$6,919,680	-$2,520,612 -$217,970	$4,181,098
14	$7,265,792	-$2,648,673 -$228,872	$4,388,247
15	$7,629,056	-$2,783,081 -$240,315	$4,605,660
16	$8,010,496	-$2,924,214 -$252,331	$4,833,951
17	$8,410,880	-$3,072,356 -$264,943	$5,073,581
18	$8,831,488	-$3,227,981 -$278,192	$5,325,315
19	$9,273,088	-$3,391,373 -$292,102	$5,589,613
20	$9,736,704	-$3,562,911 -$306,706	$5,867,087
21	$10,223,616	-$3,743,068 -$322,044	$6,158,504
22	$10,734,848	-$3,932,224 -$338,148	$6,464,476
23	$11,271,424	-$4,130,757 -$355,050	$6,785,617
24	$11,835,136	-$4,339,331 -$372,807	$7,122,998
25	$12,426,752	-$4,558,229 -$391,443	$7,477,080
26	$13,048,320	-$4,788,209 -$411,022	$7,849,089
27	$13,700,608	-$5,029,555 -$431,569	$8,239,484
28	$14,385,664	-$5,283,026 -$453,148	$8,649,490
29	$15,105,024	-$5,549,189 -$475,808	$9,080,027
30	$15,860,224	-$5,828,613 -$499,597	$9,532,014