The jackpot for the MEGA Millions draw on Tue Jun 24, 2025, is projected to be $326 Million, with an option for a cash payout of $145.7 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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland MEGA Millions Jackpot/Cash Option for Tue Jun 24, 2025 |
|---|
| Draw Date | Tue Jun 24, 2025 | | Projected Jackpot | $326,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(8.95%) | $13,040,150 | | Net Lumpsum Payment | $78,790,520 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,906,626 |
$1,775,782
$439,143 |
$2,691,701 |
| 2 |
$5,152,104 |
$1,866,609
$461,113 |
$2,824,382 |
| 3 |
$5,409,644 |
$1,961,899
$484,163 |
$2,963,582 |
| 4 |
$5,680,224 |
$2,062,013
$508,380 |
$3,109,831 |
| 5 |
$5,964,170 |
$2,167,073
$533,793 |
$3,263,304 |
| 6 |
$6,262,460 |
$2,277,441
$560,490 |
$3,424,529 |
| 7 |
$6,575,420 |
$2,393,236
$588,500 |
$3,593,684 |
| 8 |
$6,904,354 |
$2,514,941
$617,940 |
$3,771,473 |
| 9 |
$7,249,588 |
$2,642,678
$648,838 |
$3,958,072 |
| 10 |
$7,612,100 |
$2,776,807
$681,283 |
$4,154,010 |
| 11 |
$7,992,542 |
$2,917,571
$715,333 |
$4,359,638 |
| 12 |
$8,392,218 |
$3,065,451
$751,104 |
$4,575,663 |
| 13 |
$8,811,780 |
$3,220,689
$788,654 |
$4,802,437 |
| 14 |
$9,252,532 |
$3,383,767
$828,102 |
$5,040,663 |
| 15 |
$9,715,126 |
$3,554,927
$869,504 |
$5,290,695 |
| 16 |
$10,200,866 |
$3,734,651
$912,978 |
$5,553,237 |
| 17 |
$10,710,730 |
$3,923,300
$958,610 |
$5,828,820 |
| 18 |
$11,246,348 |
$4,121,479
$1,006,548 |
$6,118,321 |
| 19 |
$11,808,698 |
$4,329,549
$1,056,878 |
$6,422,271 |
| 20 |
$12,399,084 |
$4,547,991
$1,109,718 |
$6,741,375 |
| 21 |
$13,019,136 |
$4,777,411
$1,165,213 |
$7,076,512 |
| 22 |
$13,670,158 |
$5,018,289
$1,223,479 |
$7,428,390 |
| 23 |
$14,353,454 |
$5,271,108
$1,284,634 |
$7,797,712 |
| 24 |
$15,071,306 |
$5,536,714
$1,348,882 |
$8,185,710 |
| 25 |
$15,824,692 |
$5,815,466
$1,416,310 |
$8,592,916 |
| 26 |
$16,616,220 |
$6,108,332
$1,487,152 |
$9,020,736 |
| 27 |
$17,446,868 |
$6,415,672
$1,561,495 |
$9,469,701 |
| 28 |
$18,319,244 |
$6,738,451
$1,639,572 |
$9,941,221 |
| 29 |
$19,235,304 |
$7,077,393
$1,721,560 |
$10,436,351 |
| 30 |
$20,197,004 |
$7,433,222
$1,807,632 |
$10,956,150 |
|
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