North Carolina Lottery

NCLottery 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 North Carolina, your state will take 4.75% 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.

North Carolina 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(4.75%)	$1,510,500
Net Lumpsum Payment	$18,563,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$50,045	$653,374
2	$1,106,280	-$369,654 -$52,548	$684,078
3	$1,161,580	-$390,115 -$55,175	$716,290
4	$1,219,680	-$411,612 -$57,935	$750,133
5	$1,280,650	-$434,171 -$60,831	$785,648
6	$1,344,700	-$457,869 -$63,873	$822,958
7	$1,411,900	-$482,733 -$67,065	$862,102
8	$1,482,530	-$508,866 -$70,420	$903,244
9	$1,556,660	-$536,295 -$73,941	$946,424
10	$1,634,500	-$565,095 -$77,639	$991,766
11	$1,716,190	-$595,321 -$81,519	$1,039,350
12	$1,802,010	-$627,074 -$85,595	$1,089,341
13	$1,892,100	-$660,407 -$89,875	$1,141,818
14	$1,986,740	-$695,424 -$94,370	$1,196,946
15	$2,086,070	-$732,176 -$99,088	$1,254,806
16	$2,190,370	-$770,767 -$104,043	$1,315,560
17	$2,299,850	-$811,275 -$109,243	$1,379,332
18	$2,414,860	-$853,829 -$114,706	$1,446,325
19	$2,535,610	-$898,506 -$120,441	$1,516,663
20	$2,662,380	-$945,411 -$126,463	$1,590,506
21	$2,795,520	-$994,673 -$132,787	$1,668,060
22	$2,935,310	-$1,046,395 -$139,427	$1,749,488
23	$3,082,030	-$1,100,681 -$146,396	$1,834,953
24	$3,236,170	-$1,157,713 -$153,718	$1,924,739
25	$3,397,940	-$1,217,568 -$161,402	$2,018,970
26	$3,567,900	-$1,280,453 -$169,475	$2,117,972
27	$3,746,260	-$1,346,447 -$177,947	$2,221,866
28	$3,933,580	-$1,415,755 -$186,845	$2,330,980
29	$4,130,280	-$1,488,534 -$196,188	$2,445,558
30	$4,336,780	-$1,564,939 -$205,997	$2,565,844