The jackpot for the MEGA Millions draw on Fri Aug 15, 2025, is projected to be $198 Million, with an option for a cash payout of $89.3 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 those living in Texas, the bright side is you won't have to pay any state taxes on your lottery prize.
| Texas MEGA Millions Jackpot/Cash Option for Fri Aug 15, 2025 |
|---|
| Draw Date | Fri Aug 15, 2025 | | Projected Jackpot | $198,000,000 | | Cash Value | $89,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $89,300,000 | | Federal Tax(24%) | $21,432,000 | | Additional Federal Tax | $11,569,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $56,298,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,980,098 |
$1,062,967
$0 |
$1,917,131 |
| 2 |
$3,129,192 |
$1,118,131
$0 |
$2,011,061 |
| 3 |
$3,285,612 |
$1,176,007
$0 |
$2,109,605 |
| 4 |
$3,449,952 |
$1,236,813
$0 |
$2,213,139 |
| 5 |
$3,622,410 |
$1,300,622
$0 |
$2,321,788 |
| 6 |
$3,803,580 |
$1,367,655
$0 |
$2,435,925 |
| 7 |
$3,993,660 |
$1,437,985
$0 |
$2,555,675 |
| 8 |
$4,193,442 |
$1,511,904
$0 |
$2,681,538 |
| 9 |
$4,403,124 |
$1,589,486
$0 |
$2,813,638 |
| 10 |
$4,623,300 |
$1,670,951
$0 |
$2,952,349 |
| 11 |
$4,854,366 |
$1,756,446
$0 |
$3,097,920 |
| 12 |
$5,097,114 |
$1,846,263
$0 |
$3,250,851 |
| 13 |
$5,351,940 |
$1,940,548
$0 |
$3,411,392 |
| 14 |
$5,619,636 |
$2,039,596
$0 |
$3,580,040 |
| 15 |
$5,900,598 |
$2,143,552
$0 |
$3,757,046 |
| 16 |
$6,195,618 |
$2,252,709
$0 |
$3,942,909 |
| 17 |
$6,505,290 |
$2,367,288
$0 |
$4,138,002 |
| 18 |
$6,830,604 |
$2,487,654
$0 |
$4,342,950 |
| 19 |
$7,172,154 |
$2,614,027
$0 |
$4,558,127 |
| 20 |
$7,530,732 |
$2,746,701
$0 |
$4,784,031 |
| 21 |
$7,907,328 |
$2,886,042
$0 |
$5,021,286 |
| 22 |
$8,302,734 |
$3,032,342
$0 |
$5,270,392 |
| 23 |
$8,717,742 |
$3,185,895
$0 |
$5,531,847 |
| 24 |
$9,153,738 |
$3,347,213
$0 |
$5,806,525 |
| 25 |
$9,611,316 |
$3,516,517
$0 |
$6,094,799 |
| 26 |
$10,092,060 |
$3,694,393
$0 |
$6,397,667 |
| 27 |
$10,596,564 |
$3,881,059
$0 |
$6,715,505 |
| 28 |
$11,126,412 |
$4,077,103
$0 |
$7,049,309 |
| 29 |
$11,682,792 |
$4,282,963
$0 |
$7,399,829 |
| 30 |
$12,266,892 |
$4,499,080
$0 |
$7,767,812 |
|
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