South Dakota Lottery

SDLottery 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. The good news is that if you're a resident of South Dakota, you won't owe any state tax on 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.

South Dakota 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(0%)	$0
Net Lumpsum Payment	$79,482,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$0	$2,694,666
2	$4,425,120	-$1,597,625 -$0	$2,827,495
3	$4,646,320	-$1,679,469 -$0	$2,966,851
4	$4,878,720	-$1,765,457 -$0	$3,113,263
5	$5,122,600	-$1,855,692 -$0	$3,266,908
6	$5,378,800	-$1,950,486 -$0	$3,428,314
7	$5,647,600	-$2,049,942 -$0	$3,597,658
8	$5,930,120	-$2,154,475 -$0	$3,775,645
9	$6,226,640	-$2,264,187 -$0	$3,962,453
10	$6,538,000	-$2,379,390 -$0	$4,158,610
11	$6,864,760	-$2,500,292 -$0	$4,364,468
12	$7,208,040	-$2,627,305 -$0	$4,580,735
13	$7,568,400	-$2,760,638 -$0	$4,807,762
14	$7,946,960	-$2,900,706 -$0	$5,046,254
15	$8,344,280	-$3,047,714 -$0	$5,296,566
16	$8,761,480	-$3,202,078 -$0	$5,559,402
17	$9,199,400	-$3,364,108 -$0	$5,835,292
18	$9,659,440	-$3,534,323 -$0	$6,125,117
19	$10,142,440	-$3,713,033 -$0	$6,429,407
20	$10,649,520	-$3,900,653 -$0	$6,748,867
21	$11,182,080	-$4,097,700 -$0	$7,084,380
22	$11,741,240	-$4,304,589 -$0	$7,436,651
23	$12,328,120	-$4,521,735 -$0	$7,806,385
24	$12,944,680	-$4,749,862 -$0	$8,194,818
25	$13,591,760	-$4,989,282 -$0	$8,602,478
26	$14,271,600	-$5,240,822 -$0	$9,030,778
27	$14,985,040	-$5,504,795 -$0	$9,480,245
28	$15,734,320	-$5,782,029 -$0	$9,952,291
29	$16,521,120	-$6,073,145 -$0	$10,447,975
30	$17,347,120	-$6,378,765 -$0	$10,968,355