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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan 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(4.25%) | $6,192,250 | | Net Lumpsum Payment | $85,638,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,906,626 |
$1,775,782
$208,532 |
$2,922,312 |
| 2 |
$5,152,104 |
$1,866,609
$218,964 |
$3,066,531 |
| 3 |
$5,409,644 |
$1,961,899
$229,910 |
$3,217,835 |
| 4 |
$5,680,224 |
$2,062,013
$241,410 |
$3,376,801 |
| 5 |
$5,964,170 |
$2,167,073
$253,477 |
$3,543,620 |
| 6 |
$6,262,460 |
$2,277,441
$266,155 |
$3,718,864 |
| 7 |
$6,575,420 |
$2,393,236
$279,455 |
$3,902,729 |
| 8 |
$6,904,354 |
$2,514,941
$293,435 |
$4,095,978 |
| 9 |
$7,249,588 |
$2,642,678
$308,107 |
$4,298,803 |
| 10 |
$7,612,100 |
$2,776,807
$323,514 |
$4,511,779 |
| 11 |
$7,992,542 |
$2,917,571
$339,683 |
$4,735,288 |
| 12 |
$8,392,218 |
$3,065,451
$356,669 |
$4,970,098 |
| 13 |
$8,811,780 |
$3,220,689
$374,501 |
$5,216,590 |
| 14 |
$9,252,532 |
$3,383,767
$393,233 |
$5,475,532 |
| 15 |
$9,715,126 |
$3,554,927
$412,893 |
$5,747,306 |
| 16 |
$10,200,866 |
$3,734,651
$433,537 |
$6,032,678 |
| 17 |
$10,710,730 |
$3,923,300
$455,206 |
$6,332,224 |
| 18 |
$11,246,348 |
$4,121,479
$477,970 |
$6,646,899 |
| 19 |
$11,808,698 |
$4,329,549
$501,870 |
$6,977,279 |
| 20 |
$12,399,084 |
$4,547,991
$526,961 |
$7,324,132 |
| 21 |
$13,019,136 |
$4,777,411
$553,313 |
$7,688,412 |
| 22 |
$13,670,158 |
$5,018,289
$580,982 |
$8,070,887 |
| 23 |
$14,353,454 |
$5,271,108
$610,022 |
$8,472,324 |
| 24 |
$15,071,306 |
$5,536,714
$640,531 |
$8,894,061 |
| 25 |
$15,824,692 |
$5,815,466
$672,549 |
$9,336,677 |
| 26 |
$16,616,220 |
$6,108,332
$706,189 |
$9,801,699 |
| 27 |
$17,446,868 |
$6,415,672
$741,492 |
$10,289,704 |
| 28 |
$18,319,244 |
$6,738,451
$778,568 |
$10,802,225 |
| 29 |
$19,235,304 |
$7,077,393
$817,500 |
$11,340,411 |
| 30 |
$20,197,004 |
$7,433,222
$858,373 |
$11,905,409 |
|
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