The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Colorado residents, the state will deduct 4% from your lottery earnings.
| Colorado MEGA Millions Jackpot/Cash Option for Tue Apr 1, 2025 |
|---|
| Draw Date | Tue Apr 1, 2025 | | Projected Jackpot | $29,000,000 | | Cash Value | $13,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,300,000 | | Federal Tax(24%) | $3,192,000 | | Additional Federal Tax | $1,689,330 | | State Tax(4%) | $532,000 | | Net Lumpsum Payment | $7,886,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$436,479 |
$121,828
$17,459 |
$297,192 |
| 2 |
$458,316 |
$129,907
$18,333 |
$310,076 |
| 3 |
$481,226 |
$138,384
$19,249 |
$323,593 |
| 4 |
$505,296 |
$147,290
$20,212 |
$337,794 |
| 5 |
$530,555 |
$156,636
$21,222 |
$352,697 |
| 6 |
$557,090 |
$166,454
$22,284 |
$368,352 |
| 7 |
$584,930 |
$176,754
$23,397 |
$384,779 |
| 8 |
$614,191 |
$187,581
$24,568 |
$402,042 |
| 9 |
$644,902 |
$198,944
$25,796 |
$420,162 |
| 10 |
$677,150 |
$210,876
$27,086 |
$439,188 |
| 11 |
$710,993 |
$223,398
$28,440 |
$459,155 |
| 12 |
$746,547 |
$236,553
$29,862 |
$480,132 |
| 13 |
$783,870 |
$250,362
$31,355 |
$502,153 |
| 14 |
$823,078 |
$264,869
$32,923 |
$525,286 |
| 15 |
$864,229 |
$280,095
$34,569 |
$549,565 |
| 16 |
$907,439 |
$296,083
$36,298 |
$575,058 |
| 17 |
$952,795 |
$312,865
$38,112 |
$601,818 |
| 18 |
$1,000,442 |
$330,494
$40,018 |
$629,930 |
| 19 |
$1,050,467 |
$349,003
$42,019 |
$659,445 |
| 20 |
$1,102,986 |
$368,435
$44,119 |
$690,432 |
| 21 |
$1,158,144 |
$388,844
$46,326 |
$722,974 |
| 22 |
$1,216,057 |
$410,271
$48,642 |
$757,144 |
| 23 |
$1,276,841 |
$432,762
$51,074 |
$793,005 |
| 24 |
$1,340,699 |
$456,389
$53,628 |
$830,682 |
| 25 |
$1,407,718 |
$481,186
$56,309 |
$870,223 |
| 26 |
$1,478,130 |
$507,238
$59,125 |
$911,767 |
| 27 |
$1,552,022 |
$534,579
$62,081 |
$955,362 |
| 28 |
$1,629,626 |
$563,292
$65,185 |
$1,001,149 |
| 29 |
$1,711,116 |
$593,443
$68,445 |
$1,049,228 |
| 30 |
$1,796,666 |
$625,097
$71,867 |
$1,099,702 |
|
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