The jackpot for the MEGA Millions draw on Fri Jun 27, 2025, is projected to be $348 Million, with an option for a cash payout of $155.5 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 Florida, the bright side is you won't have to pay any state taxes on your lottery prize.
| Florida MEGA Millions Jackpot/Cash Option for Fri Jun 27, 2025 |
|---|
| Draw Date | Fri Jun 27, 2025 | | Projected Jackpot | $348,000,000 | | Cash Value | $155,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $155,500,000 | | Federal Tax(24%) | $37,320,000 | | Additional Federal Tax | $20,175,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $98,004,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,237,748 |
$1,898,297
$0 |
$3,339,451 |
| 2 |
$5,499,792 |
$1,995,253
$0 |
$3,504,539 |
| 3 |
$5,774,712 |
$2,096,974
$0 |
$3,677,738 |
| 4 |
$6,063,552 |
$2,203,845
$0 |
$3,859,707 |
| 5 |
$6,366,660 |
$2,315,995
$0 |
$4,050,665 |
| 6 |
$6,685,080 |
$2,433,810
$0 |
$4,251,270 |
| 7 |
$7,019,160 |
$2,557,420
$0 |
$4,461,740 |
| 8 |
$7,370,292 |
$2,687,338
$0 |
$4,682,954 |
| 9 |
$7,738,824 |
$2,823,695
$0 |
$4,915,129 |
| 10 |
$8,125,800 |
$2,966,876
$0 |
$5,158,924 |
| 11 |
$8,531,916 |
$3,117,139
$0 |
$5,414,777 |
| 12 |
$8,958,564 |
$3,274,999
$0 |
$5,683,565 |
| 13 |
$9,406,440 |
$3,440,713
$0 |
$5,965,727 |
| 14 |
$9,876,936 |
$3,614,797
$0 |
$6,262,139 |
| 15 |
$10,370,748 |
$3,797,507
$0 |
$6,573,241 |
| 16 |
$10,889,268 |
$3,989,360
$0 |
$6,899,908 |
| 17 |
$11,433,540 |
$4,190,740
$0 |
$7,242,800 |
| 18 |
$12,005,304 |
$4,402,293
$0 |
$7,603,011 |
| 19 |
$12,605,604 |
$4,624,404
$0 |
$7,981,200 |
| 20 |
$13,235,832 |
$4,857,588
$0 |
$8,378,244 |
| 21 |
$13,897,728 |
$5,102,490
$0 |
$8,795,238 |
| 22 |
$14,592,684 |
$5,359,623
$0 |
$9,233,061 |
| 23 |
$15,322,092 |
$5,629,504
$0 |
$9,692,588 |
| 24 |
$16,088,388 |
$5,913,034
$0 |
$10,175,354 |
| 25 |
$16,892,616 |
$6,210,598
$0 |
$10,682,018 |
| 26 |
$17,737,560 |
$6,523,228
$0 |
$11,214,332 |
| 27 |
$18,624,264 |
$6,851,308
$0 |
$11,772,956 |
| 28 |
$19,555,512 |
$7,195,870
$0 |
$12,359,642 |
| 29 |
$20,533,392 |
$7,557,685
$0 |
$12,975,707 |
| 30 |
$21,559,992 |
$7,937,527
$0 |
$13,622,465 |
|
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