Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 Michigan, your state will take 4.25% 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.

Michigan MEGA Millions Jackpot/Cash Option for Tue Aug 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(4.25%)	$2,885,750
Net Lumpsum Payment	$39,930,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$95,950	$1,366,039
2	$2,370,600	-$837,452 -$100,751	$1,432,397
3	$2,489,100	-$881,297 -$105,787	$1,502,016
4	$2,613,600	-$927,362 -$111,078	$1,575,160
5	$2,744,250	-$975,703 -$116,631	$1,651,916
6	$2,881,500	-$1,026,485 -$122,464	$1,732,551
7	$3,025,500	-$1,079,765 -$128,584	$1,817,151
8	$3,176,850	-$1,135,765 -$135,016	$1,906,069
9	$3,335,700	-$1,194,539 -$141,767	$1,999,394
10	$3,502,500	-$1,256,255 -$148,856	$2,097,389
11	$3,677,550	-$1,321,024 -$156,296	$2,200,230
12	$3,861,450	-$1,389,067 -$164,112	$2,308,271
13	$4,054,500	-$1,460,495 -$172,316	$2,421,689
14	$4,257,300	-$1,535,531 -$180,935	$2,540,834
15	$4,470,150	-$1,614,286 -$189,981	$2,665,883
16	$4,693,650	-$1,696,981 -$199,480	$2,797,189
17	$4,928,250	-$1,783,783 -$209,451	$2,935,016
18	$5,174,700	-$1,874,969 -$219,925	$3,079,806
19	$5,433,450	-$1,970,707 -$230,922	$3,231,821
20	$5,705,100	-$2,071,217 -$242,467	$3,391,416
21	$5,990,400	-$2,176,778 -$254,592	$3,559,030
22	$6,289,950	-$2,287,612 -$267,323	$3,735,015
23	$6,604,350	-$2,403,940 -$280,685	$3,919,725
24	$6,934,650	-$2,526,151 -$294,723	$4,113,776
25	$7,281,300	-$2,654,411 -$309,455	$4,317,434
26	$7,645,500	-$2,789,165 -$324,934	$4,531,401
27	$8,027,700	-$2,930,579 -$341,177	$4,755,944
28	$8,429,100	-$3,079,097 -$358,237	$4,991,766
29	$8,850,600	-$3,235,052 -$376,151	$5,239,397
30	$9,293,100	-$3,398,777 -$394,957	$5,499,366