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 Maryland residents, the state will deduct 8.95% from your lottery earnings.
| Maryland 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(8.95%) | $3,257,800 | | Net Lumpsum Payment | $19,713,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$107,765 |
$690,475 |
| 2 |
$1,264,320 |
$428,129
$113,157 |
$723,034 |
| 3 |
$1,327,520 |
$451,513
$118,813 |
$757,194 |
| 4 |
$1,393,920 |
$476,081
$124,756 |
$793,083 |
| 5 |
$1,463,600 |
$501,862
$130,992 |
$830,746 |
| 6 |
$1,536,800 |
$528,946
$137,544 |
$870,310 |
| 7 |
$1,613,600 |
$557,362
$144,417 |
$911,821 |
| 8 |
$1,694,320 |
$587,229
$151,642 |
$955,449 |
| 9 |
$1,779,040 |
$618,575
$159,224 |
$1,001,241 |
| 10 |
$1,868,000 |
$651,490
$167,186 |
$1,049,324 |
| 11 |
$1,961,360 |
$686,034
$175,542 |
$1,099,784 |
| 12 |
$2,059,440 |
$722,323
$184,320 |
$1,152,797 |
| 13 |
$2,162,400 |
$760,418
$193,535 |
$1,208,447 |
| 14 |
$2,270,560 |
$800,438
$203,215 |
$1,266,907 |
| 15 |
$2,384,080 |
$842,440
$213,375 |
$1,328,265 |
| 16 |
$2,503,280 |
$886,544
$224,044 |
$1,392,692 |
| 17 |
$2,628,400 |
$932,838
$235,242 |
$1,460,320 |
| 18 |
$2,759,840 |
$981,471
$247,006 |
$1,531,363 |
| 19 |
$2,897,840 |
$1,032,531
$259,357 |
$1,605,952 |
| 20 |
$3,042,720 |
$1,086,137
$272,323 |
$1,684,260 |
| 21 |
$3,194,880 |
$1,142,436
$285,942 |
$1,766,502 |
| 22 |
$3,354,640 |
$1,201,547
$300,240 |
$1,852,853 |
| 23 |
$3,522,320 |
$1,263,589
$315,248 |
$1,943,483 |
| 24 |
$3,698,480 |
$1,328,768
$331,014 |
$2,038,698 |
| 25 |
$3,883,360 |
$1,397,174
$347,561 |
$2,138,625 |
| 26 |
$4,077,600 |
$1,469,042
$364,945 |
$2,243,613 |
| 27 |
$4,281,440 |
$1,544,463
$383,189 |
$2,353,788 |
| 28 |
$4,495,520 |
$1,623,673
$402,349 |
$2,469,498 |
| 29 |
$4,720,320 |
$1,706,849
$422,469 |
$2,591,002 |
| 30 |
$4,956,320 |
$1,794,169
$443,591 |
$2,718,560 |
|
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