Michigan Lottery

MILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 17, 2025 is estimated to be $280 Million, with a cash option of 126.1 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 Jun 17, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 17, 2025	$280,000,000	$126,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$126,100,000
Federal Tax(24%)	$30,264,000
Additional Federal Tax	$16,353,330
State Tax(4.25%)	$5,359,250
Net Lumpsum Payment	$74,123,420

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$179,107	$2,515,559
2	$4,425,120	-$1,597,625 -$188,068	$2,639,427
3	$4,646,320	-$1,679,469 -$197,469	$2,769,382
4	$4,878,720	-$1,765,457 -$207,346	$2,905,917
5	$5,122,600	-$1,855,692 -$217,711	$3,049,197
6	$5,378,800	-$1,950,486 -$228,599	$3,199,715
7	$5,647,600	-$2,049,942 -$240,023	$3,357,635
8	$5,930,120	-$2,154,475 -$252,030	$3,523,615
9	$6,226,640	-$2,264,187 -$264,632	$3,697,821
10	$6,538,000	-$2,379,390 -$277,865	$3,880,745
11	$6,864,760	-$2,500,292 -$291,752	$4,072,716
12	$7,208,040	-$2,627,305 -$306,342	$4,274,393
13	$7,568,400	-$2,760,638 -$321,657	$4,486,105
14	$7,946,960	-$2,900,706 -$337,746	$4,708,508
15	$8,344,280	-$3,047,714 -$354,632	$4,941,934
16	$8,761,480	-$3,202,078 -$372,363	$5,187,039
17	$9,199,400	-$3,364,108 -$390,975	$5,444,317
18	$9,659,440	-$3,534,323 -$410,526	$5,714,591
19	$10,142,440	-$3,713,033 -$431,054	$5,998,353
20	$10,649,520	-$3,900,653 -$452,605	$6,296,262
21	$11,182,080	-$4,097,700 -$475,238	$6,609,142
22	$11,741,240	-$4,304,589 -$499,003	$6,937,648
23	$12,328,120	-$4,521,735 -$523,945	$7,282,440
24	$12,944,680	-$4,749,862 -$550,149	$7,644,669
25	$13,591,760	-$4,989,282 -$577,650	$8,024,828
26	$14,271,600	-$5,240,822 -$606,543	$8,424,235
27	$14,985,040	-$5,504,795 -$636,864	$8,843,381
28	$15,734,320	-$5,782,029 -$668,709	$9,283,582
29	$16,521,120	-$6,073,145 -$702,148	$9,745,827
30	$17,347,120	-$6,378,765 -$737,253	$10,231,102