Michigan Lottery

MILottery 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 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 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(4.25%)	$5,078,750
Net Lumpsum Payment	$70,245,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,853,056	-$1,385,961 -$163,755	$2,303,340
2	$4,045,824	-$1,457,285 -$171,948	$2,416,591
3	$4,248,064	-$1,532,114 -$180,543	$2,535,407
4	$4,460,544	-$1,610,732 -$189,573	$2,660,239
5	$4,683,520	-$1,693,233 -$199,050	$2,791,237
6	$4,917,760	-$1,779,902 -$209,005	$2,928,853
7	$5,163,520	-$1,870,833 -$219,450	$3,073,237
8	$5,421,824	-$1,966,405 -$230,428	$3,224,991
9	$5,692,928	-$2,066,714 -$241,949	$3,384,265
10	$5,977,600	-$2,172,042 -$254,048	$3,551,510
11	$6,276,352	-$2,282,581 -$266,745	$3,727,026
12	$6,590,208	-$2,398,707 -$280,084	$3,911,417
13	$6,919,680	-$2,520,612 -$294,086	$4,104,982
14	$7,265,792	-$2,648,673 -$308,796	$4,308,323
15	$7,629,056	-$2,783,081 -$324,235	$4,521,740
16	$8,010,496	-$2,924,214 -$340,446	$4,745,836
17	$8,410,880	-$3,072,356 -$357,462	$4,981,062
18	$8,831,488	-$3,227,981 -$375,338	$5,228,169
19	$9,273,088	-$3,391,373 -$394,106	$5,487,609
20	$9,736,704	-$3,562,911 -$413,810	$5,759,983
21	$10,223,616	-$3,743,068 -$434,504	$6,046,044
22	$10,734,848	-$3,932,224 -$456,231	$6,346,393
23	$11,271,424	-$4,130,757 -$479,036	$6,661,631
24	$11,835,136	-$4,339,331 -$502,993	$6,992,812
25	$12,426,752	-$4,558,229 -$528,137	$7,340,386
26	$13,048,320	-$4,788,209 -$554,554	$7,705,557
27	$13,700,608	-$5,029,555 -$582,276	$8,088,777
28	$14,385,664	-$5,283,026 -$611,391	$8,491,247
29	$15,105,024	-$5,549,189 -$641,964	$8,913,871
30	$15,860,224	-$5,828,613 -$674,060	$9,357,551