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 Michigan residents, the state will deduct 4.25% from your lottery earnings.
| Michigan 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(4.25%) | $1,143,250 | | Net Lumpsum Payment | $15,843,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$903,060 |
$294,463
$38,380 |
$570,217 |
| 2 |
$948,240 |
$311,179
$40,300 |
$596,761 |
| 3 |
$995,640 |
$328,717
$42,315 |
$624,608 |
| 4 |
$1,045,440 |
$347,143
$44,431 |
$653,866 |
| 5 |
$1,097,700 |
$366,479
$46,652 |
$684,569 |
| 6 |
$1,152,600 |
$386,792
$48,986 |
$716,822 |
| 7 |
$1,210,200 |
$408,104
$51,434 |
$750,662 |
| 8 |
$1,270,740 |
$430,504
$54,006 |
$786,230 |
| 9 |
$1,334,280 |
$454,014
$56,707 |
$823,559 |
| 10 |
$1,401,000 |
$478,700
$59,543 |
$862,757 |
| 11 |
$1,471,020 |
$504,608
$62,518 |
$903,894 |
| 12 |
$1,544,580 |
$531,825
$65,645 |
$947,110 |
| 13 |
$1,621,800 |
$560,396
$68,927 |
$992,477 |
| 14 |
$1,702,920 |
$590,411
$72,374 |
$1,040,135 |
| 15 |
$1,788,060 |
$621,913
$75,993 |
$1,090,154 |
| 16 |
$1,877,460 |
$654,991
$79,792 |
$1,142,677 |
| 17 |
$1,971,300 |
$689,711
$83,780 |
$1,197,809 |
| 18 |
$2,069,880 |
$726,186
$87,970 |
$1,255,724 |
| 19 |
$2,173,380 |
$764,481
$92,369 |
$1,316,530 |
| 20 |
$2,282,040 |
$804,685
$96,987 |
$1,380,368 |
| 21 |
$2,396,160 |
$846,910
$101,837 |
$1,447,413 |
| 22 |
$2,515,980 |
$891,243
$106,929 |
$1,517,808 |
| 23 |
$2,641,740 |
$937,774
$112,274 |
$1,591,692 |
| 24 |
$2,773,860 |
$986,659
$117,889 |
$1,669,312 |
| 25 |
$2,912,520 |
$1,037,963
$123,782 |
$1,750,775 |
| 26 |
$3,058,200 |
$1,091,864
$129,974 |
$1,836,362 |
| 27 |
$3,211,080 |
$1,148,430
$136,471 |
$1,926,179 |
| 28 |
$3,371,640 |
$1,207,837
$143,295 |
$2,020,508 |
| 29 |
$3,540,240 |
$1,270,219
$150,460 |
$2,119,561 |
| 30 |
$3,717,240 |
$1,335,709
$157,983 |
$2,223,548 |
|
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