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 Oklahoma residents, the state will deduct 4.75% from your lottery earnings.
| Oklahoma 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(4.75%) | $1,729,000 | | Net Lumpsum Payment | $21,242,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$57,194 |
$741,046 |
| 2 |
$1,264,320 |
$428,129
$60,055 |
$776,136 |
| 3 |
$1,327,520 |
$451,513
$63,057 |
$812,950 |
| 4 |
$1,393,920 |
$476,081
$66,211 |
$851,628 |
| 5 |
$1,463,600 |
$501,862
$69,521 |
$892,217 |
| 6 |
$1,536,800 |
$528,946
$72,998 |
$934,856 |
| 7 |
$1,613,600 |
$557,362
$76,646 |
$979,592 |
| 8 |
$1,694,320 |
$587,229
$80,480 |
$1,026,611 |
| 9 |
$1,779,040 |
$618,575
$84,504 |
$1,075,961 |
| 10 |
$1,868,000 |
$651,490
$88,730 |
$1,127,780 |
| 11 |
$1,961,360 |
$686,034
$93,165 |
$1,182,161 |
| 12 |
$2,059,440 |
$722,323
$97,823 |
$1,239,294 |
| 13 |
$2,162,400 |
$760,418
$102,714 |
$1,299,268 |
| 14 |
$2,270,560 |
$800,438
$107,852 |
$1,362,270 |
| 15 |
$2,384,080 |
$842,440
$113,244 |
$1,428,396 |
| 16 |
$2,503,280 |
$886,544
$118,906 |
$1,497,830 |
| 17 |
$2,628,400 |
$932,838
$124,849 |
$1,570,713 |
| 18 |
$2,759,840 |
$981,471
$131,092 |
$1,647,277 |
| 19 |
$2,897,840 |
$1,032,531
$137,647 |
$1,727,662 |
| 20 |
$3,042,720 |
$1,086,137
$144,529 |
$1,812,054 |
| 21 |
$3,194,880 |
$1,142,436
$151,757 |
$1,900,687 |
| 22 |
$3,354,640 |
$1,201,547
$159,345 |
$1,993,748 |
| 23 |
$3,522,320 |
$1,263,589
$167,310 |
$2,091,421 |
| 24 |
$3,698,480 |
$1,328,768
$175,678 |
$2,194,034 |
| 25 |
$3,883,360 |
$1,397,174
$184,460 |
$2,301,726 |
| 26 |
$4,077,600 |
$1,469,042
$193,686 |
$2,414,872 |
| 27 |
$4,281,440 |
$1,544,463
$203,368 |
$2,533,609 |
| 28 |
$4,495,520 |
$1,623,673
$213,537 |
$2,658,310 |
| 29 |
$4,720,320 |
$1,706,849
$224,215 |
$2,789,256 |
| 30 |
$4,956,320 |
$1,794,169
$235,425 |
$2,926,726 |
|
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