The jackpot for the MEGA Millions draw on Fri Jul 4, 2025, is projected to be $60 Million, with an option for a cash payout of $26.9 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 Colorado residents, the state will deduct 4% from your lottery earnings.
| Colorado MEGA Millions Jackpot/Cash Option for Fri Jul 4, 2025 |
|---|
| Draw Date | Fri Jul 4, 2025 | | Projected Jackpot | $60,000,000 | | Cash Value | $26,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,900,000 | | Federal Tax(24%) | $6,456,000 | | Additional Federal Tax | $3,457,330 | | State Tax(4%) | $1,076,000 | | Net Lumpsum Payment | $15,910,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$903,060 |
$294,463
$36,122 |
$572,475 |
| 2 |
$948,240 |
$311,179
$37,930 |
$599,131 |
| 3 |
$995,640 |
$328,717
$39,826 |
$627,097 |
| 4 |
$1,045,440 |
$347,143
$41,818 |
$656,479 |
| 5 |
$1,097,700 |
$366,479
$43,908 |
$687,313 |
| 6 |
$1,152,600 |
$386,792
$46,104 |
$719,704 |
| 7 |
$1,210,200 |
$408,104
$48,408 |
$753,688 |
| 8 |
$1,270,740 |
$430,504
$50,830 |
$789,406 |
| 9 |
$1,334,280 |
$454,014
$53,371 |
$826,895 |
| 10 |
$1,401,000 |
$478,700
$56,040 |
$866,260 |
| 11 |
$1,471,020 |
$504,608
$58,841 |
$907,571 |
| 12 |
$1,544,580 |
$531,825
$61,783 |
$950,972 |
| 13 |
$1,621,800 |
$560,396
$64,872 |
$996,532 |
| 14 |
$1,702,920 |
$590,411
$68,117 |
$1,044,392 |
| 15 |
$1,788,060 |
$621,913
$71,522 |
$1,094,625 |
| 16 |
$1,877,460 |
$654,991
$75,098 |
$1,147,371 |
| 17 |
$1,971,300 |
$689,711
$78,852 |
$1,202,737 |
| 18 |
$2,069,880 |
$726,186
$82,795 |
$1,260,899 |
| 19 |
$2,173,380 |
$764,481
$86,935 |
$1,321,964 |
| 20 |
$2,282,040 |
$804,685
$91,282 |
$1,386,073 |
| 21 |
$2,396,160 |
$846,910
$95,846 |
$1,453,404 |
| 22 |
$2,515,980 |
$891,243
$100,639 |
$1,524,098 |
| 23 |
$2,641,740 |
$937,774
$105,670 |
$1,598,296 |
| 24 |
$2,773,860 |
$986,659
$110,954 |
$1,676,247 |
| 25 |
$2,912,520 |
$1,037,963
$116,501 |
$1,758,056 |
| 26 |
$3,058,200 |
$1,091,864
$122,328 |
$1,844,008 |
| 27 |
$3,211,080 |
$1,148,430
$128,443 |
$1,934,207 |
| 28 |
$3,371,640 |
$1,207,837
$134,866 |
$2,028,937 |
| 29 |
$3,540,240 |
$1,270,219
$141,610 |
$2,128,411 |
| 30 |
$3,717,240 |
$1,335,709
$148,690 |
$2,232,841 |
|
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