The jackpot for the MEGA Millions draw on Fri May 2, 2025, is projected to be $80 Million, with an option for a cash payout of $36.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Georgia residents, the state will deduct 5.75% from your lottery earnings.
| Georgia MEGA Millions Jackpot/Cash Option for Fri May 2, 2025 |
|---|
| Draw Date | Fri May 2, 2025 | | Projected Jackpot | $80,000,000 | | Cash Value | $36,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $36,400,000 | | Federal Tax(24%) | $8,736,000 | | Additional Federal Tax | $4,692,330 | | State Tax(5.75%) | $2,093,000 | | Net Lumpsum Payment | $20,878,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$69,235 |
$729,005 |
| 2 |
$1,264,320 |
$428,129
$72,698 |
$763,493 |
| 3 |
$1,327,520 |
$451,513
$76,332 |
$799,675 |
| 4 |
$1,393,920 |
$476,081
$80,150 |
$837,689 |
| 5 |
$1,463,600 |
$501,862
$84,157 |
$877,581 |
| 6 |
$1,536,800 |
$528,946
$88,366 |
$919,488 |
| 7 |
$1,613,600 |
$557,362
$92,782 |
$963,456 |
| 8 |
$1,694,320 |
$587,229
$97,423 |
$1,009,668 |
| 9 |
$1,779,040 |
$618,575
$102,295 |
$1,058,170 |
| 10 |
$1,868,000 |
$651,490
$107,410 |
$1,109,100 |
| 11 |
$1,961,360 |
$686,034
$112,778 |
$1,162,548 |
| 12 |
$2,059,440 |
$722,323
$118,418 |
$1,218,699 |
| 13 |
$2,162,400 |
$760,418
$124,338 |
$1,277,644 |
| 14 |
$2,270,560 |
$800,438
$130,557 |
$1,339,565 |
| 15 |
$2,384,080 |
$842,440
$137,085 |
$1,404,555 |
| 16 |
$2,503,280 |
$886,544
$143,939 |
$1,472,797 |
| 17 |
$2,628,400 |
$932,838
$151,133 |
$1,544,429 |
| 18 |
$2,759,840 |
$981,471
$158,691 |
$1,619,678 |
| 19 |
$2,897,840 |
$1,032,531
$166,626 |
$1,698,683 |
| 20 |
$3,042,720 |
$1,086,137
$174,956 |
$1,781,627 |
| 21 |
$3,194,880 |
$1,142,436
$183,706 |
$1,868,738 |
| 22 |
$3,354,640 |
$1,201,547
$192,892 |
$1,960,201 |
| 23 |
$3,522,320 |
$1,263,589
$202,533 |
$2,056,198 |
| 24 |
$3,698,480 |
$1,328,768
$212,663 |
$2,157,049 |
| 25 |
$3,883,360 |
$1,397,174
$223,293 |
$2,262,893 |
| 26 |
$4,077,600 |
$1,469,042
$234,462 |
$2,374,096 |
| 27 |
$4,281,440 |
$1,544,463
$246,183 |
$2,490,794 |
| 28 |
$4,495,520 |
$1,623,673
$258,492 |
$2,613,355 |
| 29 |
$4,720,320 |
$1,706,849
$271,418 |
$2,742,053 |
| 30 |
$4,956,320 |
$1,794,169
$284,988 |
$2,877,163 |
|
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