Ohio Lottery

OHLottery 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 Ohio, your state will take 3.99% 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.

Ohio 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(3.99%)	$4,768,050
Net Lumpsum Payment	$70,556,620

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,853,056	-$1,385,961 -$153,737	$2,313,358
2	$4,045,824	-$1,457,285 -$161,428	$2,427,111
3	$4,248,064	-$1,532,114 -$169,498	$2,546,452
4	$4,460,544	-$1,610,732 -$177,976	$2,671,836
5	$4,683,520	-$1,693,233 -$186,872	$2,803,415
6	$4,917,760	-$1,779,902 -$196,219	$2,941,639
7	$5,163,520	-$1,870,833 -$206,024	$3,086,663
8	$5,421,824	-$1,966,405 -$216,331	$3,239,088
9	$5,692,928	-$2,066,714 -$227,148	$3,399,066
10	$5,977,600	-$2,172,042 -$238,506	$3,567,052
11	$6,276,352	-$2,282,581 -$250,426	$3,743,345
12	$6,590,208	-$2,398,707 -$262,949	$3,928,552
13	$6,919,680	-$2,520,612 -$276,095	$4,122,973
14	$7,265,792	-$2,648,673 -$289,905	$4,327,214
15	$7,629,056	-$2,783,081 -$304,399	$4,541,576
16	$8,010,496	-$2,924,214 -$319,619	$4,766,663
17	$8,410,880	-$3,072,356 -$335,594	$5,002,930
18	$8,831,488	-$3,227,981 -$352,376	$5,251,131
19	$9,273,088	-$3,391,373 -$369,996	$5,511,719
20	$9,736,704	-$3,562,911 -$388,494	$5,785,299
21	$10,223,616	-$3,743,068 -$407,922	$6,072,626
22	$10,734,848	-$3,932,224 -$428,320	$6,374,304
23	$11,271,424	-$4,130,757 -$449,730	$6,690,937
24	$11,835,136	-$4,339,331 -$472,222	$7,023,583
25	$12,426,752	-$4,558,229 -$495,827	$7,372,696
26	$13,048,320	-$4,788,209 -$520,628	$7,739,483
27	$13,700,608	-$5,029,555 -$546,654	$8,124,399
28	$14,385,664	-$5,283,026 -$573,988	$8,528,650
29	$15,105,024	-$5,549,189 -$602,690	$8,953,145
30	$15,860,224	-$5,828,613 -$632,823	$9,398,788