The jackpot for the MEGA Millions draw on Tue Apr 22, 2025, is projected to be $50 Million, with an option for a cash payout of $22.4 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 Washington DC residents, the state will deduct 10.75% from your lottery earnings.
Washington DC MEGA Millions Jackpot/Cash Option for Tue Apr 22, 2025 |
---|
Draw Date | Tue Apr 22, 2025 | Projected Jackpot | $50,000,000 | Cash Value | $22,400,000 |
Lumpsum Option Taxes and Payment |
---|
Cash Gross Payment | $22,400,000 | Federal Tax(24%) | $5,376,000 | Additional Federal Tax | $2,872,330 | State Tax(10.75%) | $2,408,000 | Net Lumpsum Payment | $11,743,670 |
Annuity Payment in 30 Installations |
---|
Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$752,550 |
$238,774 $80,899 |
$432,877 |
2 |
$790,200 |
$252,704 $84,947 |
$452,549 |
3 |
$829,700 |
$267,319 $89,193 |
$473,188 |
4 |
$871,200 |
$282,674 $93,654 |
$494,872 |
5 |
$914,750 |
$298,788 $98,336 |
$517,626 |
6 |
$960,500 |
$315,715 $103,254 |
$541,531 |
7 |
$1,008,500 |
$333,475 $108,414 |
$566,611 |
8 |
$1,058,950 |
$352,142 $113,837 |
$592,971 |
9 |
$1,111,900 |
$371,733 $119,529 |
$620,638 |
10 |
$1,167,500 |
$392,305 $125,506 |
$649,689 |
11 |
$1,225,850 |
$413,895 $131,779 |
$680,176 |
12 |
$1,287,150 |
$436,576 $138,369 |
$712,205 |
13 |
$1,351,500 |
$460,385 $145,286 |
$745,829 |
14 |
$1,419,100 |
$485,397 $152,553 |
$781,150 |
15 |
$1,490,050 |
$511,649 $160,180 |
$818,221 |
16 |
$1,564,550 |
$539,214 $168,189 |
$857,147 |
17 |
$1,642,750 |
$568,148 $176,596 |
$898,006 |
18 |
$1,724,900 |
$598,543 $185,427 |
$940,930 |
19 |
$1,811,150 |
$630,456 $194,699 |
$985,995 |
20 |
$1,901,700 |
$663,959 $204,433 |
$1,033,308 |
21 |
$1,996,800 |
$699,146 $214,656 |
$1,082,998 |
22 |
$2,096,650 |
$736,091 $225,390 |
$1,135,169 |
23 |
$2,201,450 |
$774,867 $236,656 |
$1,189,927 |
24 |
$2,311,550 |
$815,604 $248,492 |
$1,247,454 |
25 |
$2,427,100 |
$858,357 $260,913 |
$1,307,830 |
26 |
$2,548,500 |
$903,275 $273,964 |
$1,371,261 |
27 |
$2,675,900 |
$950,413 $287,659 |
$1,437,828 |
28 |
$2,809,700 |
$999,919 $302,043 |
$1,507,738 |
29 |
$2,950,200 |
$1,051,904 $317,147 |
$1,581,149 |
30 |
$3,097,700 |
$1,106,479 $333,003 |
$1,658,218 |
|
|