Michigan Lottery

MILottery 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 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 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(4.25%)	$1,351,500
Net Lumpsum Payment	$18,722,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$44,777	$658,642
2	$1,106,280	-$369,654 -$47,017	$689,609
3	$1,161,580	-$390,115 -$49,367	$722,098
4	$1,219,680	-$411,612 -$51,836	$756,232
5	$1,280,650	-$434,171 -$54,428	$792,051
6	$1,344,700	-$457,869 -$57,150	$829,681
7	$1,411,900	-$482,733 -$60,006	$869,161
8	$1,482,530	-$508,866 -$63,008	$910,656
9	$1,556,660	-$536,295 -$66,158	$954,207
10	$1,634,500	-$565,095 -$69,466	$999,939
11	$1,716,190	-$595,321 -$72,938	$1,047,931
12	$1,802,010	-$627,074 -$76,585	$1,098,351
13	$1,892,100	-$660,407 -$80,414	$1,151,279
14	$1,986,740	-$695,424 -$84,436	$1,206,880
15	$2,086,070	-$732,176 -$88,658	$1,265,236
16	$2,190,370	-$770,767 -$93,091	$1,326,512
17	$2,299,850	-$811,275 -$97,744	$1,390,831
18	$2,414,860	-$853,829 -$102,632	$1,458,399
19	$2,535,610	-$898,506 -$107,763	$1,529,341
20	$2,662,380	-$945,411 -$113,151	$1,603,818
21	$2,795,520	-$994,673 -$118,810	$1,682,037
22	$2,935,310	-$1,046,395 -$124,751	$1,764,164
23	$3,082,030	-$1,100,681 -$130,986	$1,850,363
24	$3,236,170	-$1,157,713 -$137,537	$1,940,920
25	$3,397,940	-$1,217,568 -$144,412	$2,035,960
26	$3,567,900	-$1,280,453 -$151,636	$2,135,811
27	$3,746,260	-$1,346,447 -$159,216	$2,240,597
28	$3,933,580	-$1,415,755 -$167,177	$2,350,648
29	$4,130,280	-$1,488,534 -$175,537	$2,466,209
30	$4,336,780	-$1,564,939 -$184,313	$2,587,528