The jackpot for the MEGA Millions draw on Tue May 13, 2025, is projected to be $110 Million, with an option for a cash payout of $49.4 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 those living in South Dakota, the bright side is you won't have to pay any state taxes on your lottery prize.
| South Dakota MEGA Millions Jackpot/Cash Option for Tue May 13, 2025 |
|---|
| Draw Date | Tue May 13, 2025 | | Projected Jackpot | $110,000,000 | | Cash Value | $49,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $49,400,000 | | Federal Tax(24%) | $11,856,000 | | Additional Federal Tax | $6,382,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $31,161,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,655,610 |
$572,906
$0 |
$1,082,704 |
| 2 |
$1,738,440 |
$603,553
$0 |
$1,134,887 |
| 3 |
$1,825,340 |
$635,706
$0 |
$1,189,634 |
| 4 |
$1,916,640 |
$669,487
$0 |
$1,247,153 |
| 5 |
$2,012,450 |
$704,937
$0 |
$1,307,513 |
| 6 |
$2,113,100 |
$742,177
$0 |
$1,370,923 |
| 7 |
$2,218,700 |
$781,249
$0 |
$1,437,451 |
| 8 |
$2,329,690 |
$822,316
$0 |
$1,507,374 |
| 9 |
$2,446,180 |
$865,417
$0 |
$1,580,763 |
| 10 |
$2,568,500 |
$910,675
$0 |
$1,657,825 |
| 11 |
$2,696,870 |
$958,172
$0 |
$1,738,698 |
| 12 |
$2,831,730 |
$1,008,070
$0 |
$1,823,660 |
| 13 |
$2,973,300 |
$1,060,451
$0 |
$1,912,849 |
| 14 |
$3,122,020 |
$1,115,478
$0 |
$2,006,542 |
| 15 |
$3,278,110 |
$1,173,231
$0 |
$2,104,879 |
| 16 |
$3,442,010 |
$1,233,874
$0 |
$2,208,136 |
| 17 |
$3,614,050 |
$1,297,529
$0 |
$2,316,521 |
| 18 |
$3,794,780 |
$1,364,399
$0 |
$2,430,381 |
| 19 |
$3,984,530 |
$1,434,606
$0 |
$2,549,924 |
| 20 |
$4,183,740 |
$1,508,314
$0 |
$2,675,426 |
| 21 |
$4,392,960 |
$1,585,726
$0 |
$2,807,234 |
| 22 |
$4,612,630 |
$1,667,003
$0 |
$2,945,627 |
| 23 |
$4,843,190 |
$1,752,311
$0 |
$3,090,879 |
| 24 |
$5,085,410 |
$1,841,932
$0 |
$3,243,478 |
| 25 |
$5,339,620 |
$1,935,990
$0 |
$3,403,630 |
| 26 |
$5,606,700 |
$2,034,809
$0 |
$3,571,891 |
| 27 |
$5,886,980 |
$2,138,513
$0 |
$3,748,467 |
| 28 |
$6,181,340 |
$2,247,426
$0 |
$3,933,914 |
| 29 |
$6,490,440 |
$2,361,793
$0 |
$4,128,647 |
| 30 |
$6,814,940 |
$2,481,858
$0 |
$4,333,082 |
|
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