Oklahoma Lottery

OKLottery 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 Oklahoma, 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.

Oklahoma 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(4.75%)	$5,989,750
Net Lumpsum Payment	$73,492,920

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$200,178	$2,494,488
2	$4,425,120	-$1,597,625 -$210,193	$2,617,302
3	$4,646,320	-$1,679,469 -$220,700	$2,746,151
4	$4,878,720	-$1,765,457 -$231,739	$2,881,524
5	$5,122,600	-$1,855,692 -$243,324	$3,023,584
6	$5,378,800	-$1,950,486 -$255,493	$3,172,821
7	$5,647,600	-$2,049,942 -$268,261	$3,329,397
8	$5,930,120	-$2,154,475 -$281,681	$3,493,964
9	$6,226,640	-$2,264,187 -$295,765	$3,666,688
10	$6,538,000	-$2,379,390 -$310,555	$3,848,055
11	$6,864,760	-$2,500,292 -$326,076	$4,038,392
12	$7,208,040	-$2,627,305 -$342,382	$4,238,353
13	$7,568,400	-$2,760,638 -$359,499	$4,448,263
14	$7,946,960	-$2,900,706 -$377,481	$4,668,773
15	$8,344,280	-$3,047,714 -$396,353	$4,900,213
16	$8,761,480	-$3,202,078 -$416,170	$5,143,232
17	$9,199,400	-$3,364,108 -$436,972	$5,398,320
18	$9,659,440	-$3,534,323 -$458,823	$5,666,294
19	$10,142,440	-$3,713,033 -$481,766	$5,947,641
20	$10,649,520	-$3,900,653 -$505,852	$6,243,015
21	$11,182,080	-$4,097,700 -$531,149	$6,553,231
22	$11,741,240	-$4,304,589 -$557,709	$6,878,942
23	$12,328,120	-$4,521,735 -$585,586	$7,220,799
24	$12,944,680	-$4,749,862 -$614,872	$7,579,946
25	$13,591,760	-$4,989,282 -$645,609	$7,956,869
26	$14,271,600	-$5,240,822 -$677,901	$8,352,877
27	$14,985,040	-$5,504,795 -$711,789	$8,768,456
28	$15,734,320	-$5,782,029 -$747,380	$9,204,911
29	$16,521,120	-$6,073,145 -$784,753	$9,663,222
30	$17,347,120	-$6,378,765 -$823,988	$10,144,367