Nebraska Lottery

NELottery 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 Nebraska, your state will take 5% 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.

Nebraska 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(5%)	$5,975,000
Net Lumpsum Payment	$69,349,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,853,056	-$1,385,961 -$192,653	$2,274,442
2	$4,045,824	-$1,457,285 -$202,291	$2,386,248
3	$4,248,064	-$1,532,114 -$212,403	$2,503,547
4	$4,460,544	-$1,610,732 -$223,027	$2,626,785
5	$4,683,520	-$1,693,233 -$234,176	$2,756,111
6	$4,917,760	-$1,779,902 -$245,888	$2,891,970
7	$5,163,520	-$1,870,833 -$258,176	$3,034,511
8	$5,421,824	-$1,966,405 -$271,091	$3,184,328
9	$5,692,928	-$2,066,714 -$284,646	$3,341,568
10	$5,977,600	-$2,172,042 -$298,880	$3,506,678
11	$6,276,352	-$2,282,581 -$313,818	$3,679,953
12	$6,590,208	-$2,398,707 -$329,510	$3,861,991
13	$6,919,680	-$2,520,612 -$345,984	$4,053,084
14	$7,265,792	-$2,648,673 -$363,290	$4,253,829
15	$7,629,056	-$2,783,081 -$381,453	$4,464,522
16	$8,010,496	-$2,924,214 -$400,525	$4,685,757
17	$8,410,880	-$3,072,356 -$420,544	$4,917,980
18	$8,831,488	-$3,227,981 -$441,574	$5,161,933
19	$9,273,088	-$3,391,373 -$463,654	$5,418,061
20	$9,736,704	-$3,562,911 -$486,835	$5,686,958
21	$10,223,616	-$3,743,068 -$511,181	$5,969,367
22	$10,734,848	-$3,932,224 -$536,742	$6,265,882
23	$11,271,424	-$4,130,757 -$563,571	$6,577,096
24	$11,835,136	-$4,339,331 -$591,757	$6,904,048
25	$12,426,752	-$4,558,229 -$621,338	$7,247,185
26	$13,048,320	-$4,788,209 -$652,416	$7,607,695
27	$13,700,608	-$5,029,555 -$685,030	$7,986,023
28	$14,385,664	-$5,283,026 -$719,283	$8,383,355
29	$15,105,024	-$5,549,189 -$755,251	$8,800,584
30	$15,860,224	-$5,828,613 -$793,011	$9,238,600