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 Indiana residents, the state will deduct 3.15% from your lottery earnings.
| Indiana 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(3.15%) | $1,146,600 | | Net Lumpsum Payment | $21,825,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$37,929 |
$760,311 |
| 2 |
$1,264,320 |
$428,129
$39,826 |
$796,365 |
| 3 |
$1,327,520 |
$451,513
$41,817 |
$834,190 |
| 4 |
$1,393,920 |
$476,081
$43,908 |
$873,931 |
| 5 |
$1,463,600 |
$501,862
$46,103 |
$915,635 |
| 6 |
$1,536,800 |
$528,946
$48,409 |
$959,445 |
| 7 |
$1,613,600 |
$557,362
$50,828 |
$1,005,410 |
| 8 |
$1,694,320 |
$587,229
$53,371 |
$1,053,720 |
| 9 |
$1,779,040 |
$618,575
$56,040 |
$1,104,425 |
| 10 |
$1,868,000 |
$651,490
$58,842 |
$1,157,668 |
| 11 |
$1,961,360 |
$686,034
$61,783 |
$1,213,543 |
| 12 |
$2,059,440 |
$722,323
$64,872 |
$1,272,245 |
| 13 |
$2,162,400 |
$760,418
$68,116 |
$1,333,866 |
| 14 |
$2,270,560 |
$800,438
$71,523 |
$1,398,599 |
| 15 |
$2,384,080 |
$842,440
$75,099 |
$1,466,541 |
| 16 |
$2,503,280 |
$886,544
$78,853 |
$1,537,883 |
| 17 |
$2,628,400 |
$932,838
$82,795 |
$1,612,767 |
| 18 |
$2,759,840 |
$981,471
$86,935 |
$1,691,434 |
| 19 |
$2,897,840 |
$1,032,531
$91,282 |
$1,774,027 |
| 20 |
$3,042,720 |
$1,086,137
$95,846 |
$1,860,737 |
| 21 |
$3,194,880 |
$1,142,436
$100,639 |
$1,951,805 |
| 22 |
$3,354,640 |
$1,201,547
$105,671 |
$2,047,422 |
| 23 |
$3,522,320 |
$1,263,589
$110,953 |
$2,147,778 |
| 24 |
$3,698,480 |
$1,328,768
$116,502 |
$2,253,210 |
| 25 |
$3,883,360 |
$1,397,174
$122,326 |
$2,363,860 |
| 26 |
$4,077,600 |
$1,469,042
$128,444 |
$2,480,114 |
| 27 |
$4,281,440 |
$1,544,463
$134,865 |
$2,602,112 |
| 28 |
$4,495,520 |
$1,623,673
$141,609 |
$2,730,238 |
| 29 |
$4,720,320 |
$1,706,849
$148,690 |
$2,864,781 |
| 30 |
$4,956,320 |
$1,794,169
$156,124 |
$3,006,027 |
|
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