The jackpot for the MEGA Millions draw on Tue Oct 21, 2025, is projected to be $650 Million, with an option for a cash payout of $304.1 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 Montana residents, the state will deduct 6.75% from your lottery earnings.
Montana MEGA Millions Jackpot/Cash Option for Tue Oct 21, 2025 |
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Draw Date | Tue Oct 21, 2025 | Projected Jackpot | $650,000,000 | Cash Value | $304,100,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $304,100,000 | Federal Tax(24%) | $72,984,000 | Additional Federal Tax | $39,493,330 | State Tax(6.75%) | $20,526,750 | Net Lumpsum Payment | $171,095,920 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$9,783,150 |
$3,580,096 $660,363 |
$5,542,691 |
2 |
$10,272,600 |
$3,761,192 $693,401 |
$5,818,007 |
3 |
$10,786,100 |
$3,951,187 $728,062 |
$6,106,851 |
4 |
$11,325,600 |
$4,150,802 $764,478 |
$6,410,320 |
5 |
$11,891,750 |
$4,360,278 $802,693 |
$6,728,779 |
6 |
$12,486,500 |
$4,580,335 $842,839 |
$7,063,326 |
7 |
$13,110,500 |
$4,811,215 $884,959 |
$7,414,326 |
8 |
$13,766,350 |
$5,053,880 $929,229 |
$7,783,241 |
9 |
$14,454,700 |
$5,308,569 $975,692 |
$8,170,439 |
10 |
$15,177,500 |
$5,576,005 $1,024,481 |
$8,577,014 |
11 |
$15,936,050 |
$5,856,669 $1,075,683 |
$9,003,698 |
12 |
$16,732,950 |
$6,151,522 $1,129,474 |
$9,451,954 |
13 |
$17,569,500 |
$6,461,045 $1,185,941 |
$9,922,514 |
14 |
$18,448,300 |
$6,786,201 $1,245,260 |
$10,416,839 |
15 |
$19,370,650 |
$7,127,471 $1,307,519 |
$10,935,660 |
16 |
$20,339,150 |
$7,485,816 $1,372,893 |
$11,480,441 |
17 |
$21,355,750 |
$7,861,958 $1,441,513 |
$12,052,279 |
18 |
$22,423,700 |
$8,257,099 $1,513,600 |
$12,653,001 |
19 |
$23,544,950 |
$8,671,962 $1,589,284 |
$13,283,704 |
20 |
$24,722,100 |
$9,107,507 $1,668,742 |
$13,945,851 |
21 |
$25,958,400 |
$9,564,938 $1,752,192 |
$14,641,270 |
22 |
$27,256,450 |
$10,045,217 $1,839,810 |
$15,371,423 |
23 |
$28,618,850 |
$10,549,305 $1,931,772 |
$16,137,773 |
24 |
$30,050,150 |
$11,078,886 $2,028,385 |
$16,942,879 |
25 |
$31,552,300 |
$11,634,681 $2,129,780 |
$17,787,839 |
26 |
$33,130,500 |
$12,218,615 $2,236,309 |
$18,675,576 |
27 |
$34,786,700 |
$12,831,409 $2,348,102 |
$19,607,189 |
28 |
$36,526,100 |
$13,474,987 $2,465,512 |
$20,585,601 |
29 |
$38,352,600 |
$14,150,792 $2,588,801 |
$21,613,007 |
30 |
$40,270,100 |
$14,860,267 $2,718,232 |
$22,691,601 |
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